Intel (NASDAQ:INTC) Stock Price Up 0.4% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price traded up 0.4% during mid-day trading on Friday . The company traded as high as $20.55 and last traded at $20.30. 14,168,730 shares were traded during trading, a decline of 51% from the average session volume of 28,826,855 shares. The stock had previously closed at $20.22.

Wall Street Analysts Forecast Growth

INTC has been the subject of several recent research reports. Robert W. Baird raised their price objective 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. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. The Goldman Sachs Group reduced their price objective on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Mizuho boosted their target price on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.04.

Intel Price Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The company has a 50 day moving average price of $22.32 and a 200 day moving average price of $24.13. The firm has a market cap of $88.68 billion, a PE ratio of -5.53 and a beta of 1.07.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for 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 firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. Sell-side analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Transactions 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 transaction of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several hedge funds have recently bought and sold shares of INTC. William B. Walkup & Associates Inc. acquired a new position in shares of Intel during the 2nd quarter worth $2,178,000. Geode Capital Management LLC raised 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 acquiring an additional 4,103,553 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Intel by 4.4% in the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Swiss National Bank grew its position in shares of Intel by 0.3% in the third 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 during the last quarter. Finally, SGL Investment Advisors Inc. purchased a new position in shares of Intel during the 3rd quarter worth approximately $2,365,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.