Intel (NASDAQ:INTC) Trading Up 1.5% – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) were up 1.5% during trading on Friday . The stock traded as high as $22.82 and last traded at $22.78. Approximately 8,669,745 shares were traded during trading, a decline of 85% from the average daily volume of 58,678,047 shares. The stock had previously closed at $22.44.

Analyst Upgrades and Downgrades

Several analysts recently commented on INTC shares. Roth Mkm reduced their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Morgan Stanley reduced their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. UBS Group reduced their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald cut their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $31.92.

Intel Stock Performance

The company has a 50-day moving average price of $21.40 and a two-hundred day moving average price of $28.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $96.93 billion, a P/E ratio of 23.72 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the business posted ($0.05) earnings per share. The business’s revenue was down .8% on a year-over-year basis. On average, equities analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s 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 purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in INTC. Vest Financial LLC bought a new stake in shares of Intel during the third quarter worth about $410,000. CNB Bank increased its position in shares of Intel by 29.4% during the third quarter. CNB Bank now owns 5,841 shares of the chip maker’s stock worth $137,000 after acquiring an additional 1,327 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of Intel by 6.0% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 433,573 shares of the chip maker’s stock worth $10,172,000 after acquiring an additional 24,423 shares in the last quarter. DMC Group LLC raised its position in Intel by 14.8% in the 3rd quarter. DMC Group LLC now owns 39,412 shares of the chip maker’s stock valued at $925,000 after buying an additional 5,090 shares during the last quarter. Finally, Bonness Enterprises Inc. lifted its stake in Intel by 7.6% during the 3rd quarter. Bonness Enterprises Inc. now owns 141,150 shares of the chip maker’s stock valued at $3,311,000 after acquiring an additional 10,000 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

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.