Intel (NASDAQ:INTC) Stock Price Up 1.7% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price was up 1.7% during mid-day trading on Tuesday . The stock traded as high as $20.40 and last traded at $20.15. Approximately 15,667,047 shares were traded during trading, a decline of 75% from the average daily volume of 61,499,074 shares. The stock had previously closed at $19.82.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INTC. Bank of America reaffirmed an “underperform” rating and issued a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Mizuho increased their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their price target on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. TD Cowen upgraded shares of Intel to a “hold” rating in a research note on Monday, September 16th. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $30.04.

Intel Stock Up 1.2 %

The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $86.48 billion, a PE ratio of -5.39 and a beta of 1.05. The company’s 50 day moving average is $22.40 and its two-hundred day moving average is $24.24.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Intel

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

About Intel

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.