Intel (NASDAQ:INTC) Stock Price Up 1.2% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s share price traded up 1.2% during mid-day trading on Wednesday . The stock traded as high as $20.40 and last traded at $20.05. 49,642,742 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 61,639,930 shares. The stock had previously closed at $19.82.

Analysts Set New Price Targets

Several equities analysts have weighed in on INTC shares. Mizuho lifted their price target on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Robert W. Baird lifted their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. The Goldman Sachs Group lowered their price objective on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.04.

Intel Trading Up 0.8 %

The company’s 50 day moving average price is $22.36 and its two-hundred day moving average price is $24.21. The firm has a market cap of $87.21 billion, a PE ratio of -5.44 and a beta of 1.05. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

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 analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations 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 last year, the company earned $0.28 earnings per share. As a group, sell-side analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Intel

Several institutional investors and hedge funds have recently modified their holdings of the stock. William B. Walkup & Associates Inc. bought a new position in shares of Intel during the 2nd quarter worth $2,178,000. Geode Capital Management LLC grew its holdings in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Swiss National Bank raised its holdings in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares in the last quarter. Finally, SGL Investment Advisors Inc. purchased a new stake in shares of Intel in the 3rd quarter worth approximately $2,365,000. Institutional investors 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.