Intel (NASDAQ:INTC) Shares Up 0.1% – What’s Next?

Intel Co. (NASDAQ:INTC) shares shot up 0.1% during trading on Tuesday . The stock traded as high as $22.47 and last traded at $22.41. 9,278,676 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 59,020,422 shares. The stock had previously closed at $22.38.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of recent research reports. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Northland Securities dropped their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Barclays decreased their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $31.96.

Intel Price Performance

The firm has a 50 day moving average of $21.19 and a two-hundred day moving average of $29.04. The company has a market cap of $99.87 billion, a PE ratio of 24.44 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. Research analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.13%. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after acquiring an additional 31,575,084 shares during the period. Capital International Investors boosted its position in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers increased its position in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares during the last quarter. Finally, Caxton Associates LP bought a new position in shares of Intel in the 2nd quarter worth approximately $162,592,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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.