Intel (NASDAQ:INTC) Trading 1% Higher – What’s Next?

Intel Co. (NASDAQ:INTC)’s stock price traded up 1% during trading on Wednesday . The company traded as high as $24.50 and last traded at $24.39. 12,259,436 shares traded hands during trading, a decline of 80% from the average session volume of 59,925,602 shares. The stock had previously closed at $24.16.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wedbush dropped their price target on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Morgan Stanley reduced their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Susquehanna reduced their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.12.

Intel Stock Performance

The business’s 50 day moving average is $22.36 and its 200-day moving average is $26.43. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. As a group, analysts forecast that Intel Co. will post -0.83 EPS for the current year.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in Intel during the 3rd quarter worth approximately $3,682,000. Longfellow Investment Management Co. LLC increased its holdings in Intel by 151.2% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 205,496 shares of the chip maker’s stock worth $4,821,000 after purchasing an additional 123,700 shares during the last quarter. Bedell Frazier Investment Counselling LLC bought a new stake in shares of Intel in the 3rd quarter valued at approximately $207,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Intel by 61.3% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 320,629 shares of the chip maker’s stock valued at $7,522,000 after acquiring an additional 121,815 shares during the last quarter. Finally, Bank of Hawaii increased its holdings in shares of Intel by 2.2% in the 3rd quarter. Bank of Hawaii now owns 46,029 shares of the chip maker’s stock valued at $1,080,000 after acquiring an additional 979 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

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.