Intel (NASDAQ:INTC) Stock Price Up 1% – Here’s Why

Intel Co. (NASDAQ:INTC) rose 1% during trading on Wednesday . The company traded as high as $20.40 and last traded at $20.40. Approximately 29,884,023 shares traded hands during trading, a decline of 52% from the average daily volume of 61,837,902 shares. The stock had previously closed at $20.20.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Robert W. Baird raised their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Bank of America reiterated an “underperform” rating and issued a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.04.

Intel Stock Up 0.2 %

The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $88.16 billion, a price-to-earnings ratio of -5.49 and a beta of 1.05. The business’s 50-day moving average is $22.60 and its 200-day moving average is $24.58.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. As a group, equities analysts predict that Intel Co. will post -0.87 earnings per share for the current year.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several institutional investors have recently bought and sold shares of the business. Independent Solutions Wealth Management LLC raised its position in Intel by 29.5% during the third quarter. Independent Solutions Wealth Management LLC now owns 18,895 shares of the chip maker’s stock worth $443,000 after acquiring an additional 4,304 shares during the period. Principal Financial Group Inc. raised its position in shares of 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 purchasing an additional 204,200 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Intel by 0.8% in the 3rd quarter. Retirement Systems of Alabama now owns 946,906 shares of the chip maker’s stock valued at $22,214,000 after buying an additional 7,857 shares in the last quarter. Denver PWM LLC boosted its holdings in Intel by 752.1% in the 3rd quarter. Denver PWM LLC now owns 26,425 shares of the chip maker’s stock worth $620,000 after buying an additional 23,324 shares during the last quarter. Finally, World Investment Advisors LLC increased its stake in Intel by 59.6% during the 3rd quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker’s stock worth $1,009,000 after buying an additional 16,046 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

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.