Intel (NASDAQ:INTC) Trading Up 2.3% – What’s Next?

Intel Co. (NASDAQ:INTC)’s share price was up 2.3% on Friday . The company traded as high as $23.82 and last traded at $23.75. Approximately 11,148,475 shares changed hands during trading, a decline of 81% from the average daily volume of 58,891,352 shares. The stock had previously closed at $23.22.

Analysts Set New Price Targets

A number of analysts have weighed in on INTC shares. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Truist Financial lowered their target price on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. UBS Group decreased their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald decreased their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Northland Securities decreased their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.96.

Intel Price Performance

The stock has a market capitalization of $101.60 billion, a PE ratio of 103.27 and a beta of 1.03. The stock’s 50 day moving average is $21.07 and its two-hundred day moving average is $29.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

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

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 217.40%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost 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 $765,576. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of INTC. Vanguard Group Inc. increased its holdings in shares of Intel by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after buying an additional 3,310,528 shares during the last quarter. Capital International Investors increased its holdings in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Intel by 2.2% during the 2nd 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 last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after buying an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Intel by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.