Intel (NASDAQ:INTC) Stock Price Up 4.5%

Intel Co. (NASDAQ:INTC)’s stock price shot up 4.5% on Wednesday . The stock traded as high as $37.10 and last traded at $35.88. 42,294,547 shares traded hands during trading, a decline of 10% from the average session volume of 47,112,355 shares. The stock had previously closed at $34.34.

Analyst Ratings Changes

A number of research analysts recently issued reports on INTC shares. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Friday, April 26th. Sanford C. Bernstein cut their price target on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Mizuho reduced their price objective on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Bank of America lowered their target price on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Morgan Stanley reduced their price target on Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $39.25.

Intel Price Performance

The business has a 50-day moving average price of $31.31 and a two-hundred day moving average price of $38.21. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $149.55 billion, a price-to-earnings ratio of 37.38, a price-to-earnings-growth ratio of 17.88 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The business had revenue of $12.72 billion during the quarter, compared to analyst estimates of $12.76 billion. As a group, research analysts anticipate that Intel Co. will post 0.08 EPS for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Monday, May 6th. Intel’s payout ratio is currently 52.08%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Patrick P. Gelsinger bought 4,000 shares of Intel stock in a transaction on Monday, April 29th. The stock was acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the acquisition, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. 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. Barrett & Company Inc. grew its position in shares of Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after purchasing an additional 210 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Intel by 3.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after buying an additional 216 shares in the last quarter. New Millennium Group LLC increased its stake in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares during the last quarter. Waldron Private Wealth LLC raised its holdings in shares of Intel by 0.6% in the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares in the last quarter. Finally, Spreng Capital Management Inc. grew its holdings in shares of Intel by 1.3% during the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after purchasing an additional 246 shares in the last quarter. 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.