Intel (NASDAQ:INTC) Trading 2.2% Higher – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) shot up 2.2% during trading on Tuesday . The company traded as high as $20.34 and last traded at $20.31. 19,212,525 shares traded hands during trading, a decline of 60% from the average session volume of 48,367,406 shares. The stock had previously closed at $19.87.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Northland Securities reduced their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group cut their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.04.

Intel Stock Up 0.8 %

The stock’s fifty day simple moving average is $22.25 and its two-hundred day simple moving average is $23.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The company has a market capitalization of $86.35 billion, a price-to-earnings ratio of -5.38 and a beta of 1.07.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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 business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. On average, sell-side analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in shares of Intel by 149.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,182,064 shares of the chip maker’s stock worth $36,602,000 after buying an additional 708,100 shares in the last quarter. Certuity LLC lifted its position in Intel by 38.4% in the second quarter. Certuity LLC now owns 10,224 shares of the chip maker’s stock worth $317,000 after purchasing an additional 2,836 shares during the period. Caprock Group LLC boosted its stake in Intel by 51.2% during the 2nd quarter. Caprock Group LLC now owns 68,884 shares of the chip maker’s stock valued at $2,133,000 after purchasing an additional 23,333 shares in the last quarter. Koss Olinger Consulting LLC acquired a new position in shares of Intel during the 2nd quarter valued at $615,000. Finally, Oak Thistle LLC bought a new stake in shares of Intel in the 2nd quarter worth $374,000. 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.