Intel (NASDAQ:INTC) Trading Up 0.9% – Here’s Why

Intel Co. (NASDAQ:INTC) traded up 0.9% during trading on Thursday . The company traded as high as $21.13 and last traded at $21.00. Approximately 36,424,522 shares traded hands during trading, a decline of 63% from the average daily volume of 98,506,250 shares. The stock had previously closed at $20.81.

Analyst Upgrades and Downgrades

INTC has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Bank of America reiterated an “underperform” rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. JPMorgan Chase & Co. dropped their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Wells Fargo & Company reduced their target price on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Barclays dropped their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Five research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.88.

Intel Price Performance

The company has a market cap of $89.37 billion, a P/E ratio of -4.71 and a beta of 1.02. The company’s 50-day moving average price is $21.30 and its two-hundred day moving average price is $21.80. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. As a group, sell-side analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Intel

Several large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Intel during the fourth quarter worth $1,246,569,000. Two Sigma Advisers LP acquired a new stake in Intel during the fourth quarter worth about $289,752,000. Assenagon Asset Management S.A. lifted its holdings in Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after acquiring an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intel by 28.2% in the third 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 valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Intel during the fourth quarter valued at approximately $237,457,000. 64.53% of the stock is currently 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.