Intel (NASDAQ:INTC) Stock Price Up 1.2% – Here’s Why

Intel Co. (NASDAQ:INTC) shares traded up 1.2% on Wednesday . The company traded as high as $20.40 and last traded at $20.05. 49,642,742 shares changed hands during trading, a decline of 19% from the average session volume of 61,639,930 shares. The stock had previously closed at $19.82.

Analyst Upgrades and Downgrades

INTC has been the topic of several research analyst reports. The Goldman Sachs Group lowered their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Northland Securities lowered their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Finally, Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Six investment 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. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Stock Up 1.2 %

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 stock has a market capitalization of $86.48 billion, a P/E ratio of -5.39 and a beta of 1.05. The company has a fifty day moving average price of $22.44 and a 200-day moving average price of $24.26.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.28 EPS. As a group, research analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC lifted its position in Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. Primecap Management Co. CA boosted its stake in Intel by 2.2% during the second 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intel by 28.2% during 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 last quarter. Finally, Van ECK Associates Corp raised its stake in shares of 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 acquiring an additional 9,422,136 shares during the period. 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.