Intel (NASDAQ:INTC) Shares Gap Up After Analyst Upgrade

Intel Co. (NASDAQ:INTC)’s share price gapped up prior to trading on Friday after Robert W. Baird raised their price target on the stock from $20.00 to $25.00. The stock had previously closed at $21.52, but opened at $23.00. Robert W. Baird currently has a neutral rating on the stock. Intel shares last traded at $22.75, with a volume of 31,136,098 shares trading hands.

Several other equities research analysts have also commented on the stock. UBS Group cut their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Morgan Stanley reduced their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Barclays lowered their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. 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. Finally, HSBC cut Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.58.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of hedge funds have recently modified their holdings of INTC. William B. Walkup & Associates Inc. bought a new position in shares of Intel during the second quarter valued at $2,178,000. Fortis Group Advisors LLC increased its position in Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the period. Private Advisory Group LLC bought a new stake in Intel during the 3rd quarter worth about $8,045,000. Sanibel Captiva Trust Company Inc. boosted its stake in shares of Intel by 21.1% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares during the last quarter. Finally, Forsta AP Fonden grew its position in shares of Intel by 4.6% during the 3rd quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock worth $22,267,000 after buying an additional 41,900 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

The firm has a market capitalization of $97.24 billion, a P/E ratio of 99.87 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The stock’s 50 day moving average is $21.74 and its two-hundred day moving average is $27.12.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. As a group, equities analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

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.