Intel (NASDAQ:INTC) Trading 15% Higher – Here’s Why

Intel Co. (NASDAQ:INTC) shares rose 15% during mid-day trading on Thursday . The company traded as high as $24.53 and last traded at $23.79. Approximately 129,260,778 shares traded hands during trading, an increase of 30% from the average daily volume of 99,782,109 shares. The stock had previously closed at $20.68.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Truist Financial dropped their price target on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. UBS Group reduced their price objective on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Finally, Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus price target of $27.04.

Intel Stock Up 13.9 %

The firm has a market capitalization of $102.01 billion, a PE ratio of -5.37 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average price is $21.31 and its two-hundred day moving average price is $21.80.

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

Hedge Funds Weigh In On Intel

Several large investors have recently modified their holdings of INTC. Norges Bank acquired a new position in shares of Intel in the 4th quarter worth approximately $1,246,569,000. Two Sigma Advisers LP bought a new position in Intel during the fourth quarter worth $289,752,000. Assenagon Asset Management S.A. boosted 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 purchasing an additional 14,227,458 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 purchasing an additional 12,865,308 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Intel during the fourth quarter worth $237,457,000. Institutional investors own 64.53% of the company’s stock.

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.