Intel (NASDAQ:INTC) Trading Up 0.1% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s stock price was up 0.1% during mid-day trading on Tuesday . The company traded as high as $20.32 and last traded at $20.22. Approximately 12,275,099 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 61,760,207 shares. The stock had previously closed at $20.20.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INTC. Mizuho increased their price target on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial raised their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group reduced their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus price target of $30.04.

Intel Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock’s fifty day moving average price is $22.64 and its 200-day moving average price is $24.60. The company has a market capitalization of $87.99 billion, a P/E ratio of -5.48 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion during 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%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. As a group, research analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after acquiring an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $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 lifted its position in shares of Intel by 28.2% during 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 worth $1,371,692,000 after buying an additional 12,865,308 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Intel by 27.2% in the third 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. 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.