Intel (NASDAQ:INTC) Shares Up 1% – Here’s Why

Intel Co. (NASDAQ:INTC) shot up 1% on Thursday . The company traded as high as $20.65 and last traded at $20.60. 11,289,452 shares changed hands during trading, a decline of 82% from the average session volume of 61,630,883 shares. The stock had previously closed at $20.40.

Analyst Ratings Changes

A number of equities analysts have issued reports on INTC shares. Mizuho upped their target price on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. The Goldman Sachs Group cut their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Truist Financial upped their target price on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Robert W. Baird lifted their price target on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Intel has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm has a 50 day simple moving average of $22.55 and a two-hundred day simple moving average of $24.50. The stock has a market cap of $87.55 billion, a P/E ratio of -5.46 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS. Equities research analysts predict that Intel Co. will post -0.87 earnings per share for the current year.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp raised its holdings in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after acquiring an additional 12,865,308 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after acquiring an additional 9,422,136 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.