Intel (NASDAQ:INTC) Shares Up 0.1% – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) rose 0.1% on Tuesday . The stock traded as high as $20.32 and last traded at $20.22. Approximately 12,275,099 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 61,760,207 shares. The stock had previously closed at $20.20.

Wall Street Analysts Forecast Growth

INTC has been the topic of several research analyst reports. Truist Financial raised their target price on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Stifel Nicolaus restated a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Bank of America reiterated an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Northland Securities decreased their target price on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Mizuho boosted their price target on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Six investment 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’s stock. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Stock Up 1.0 %

The firm has a fifty day moving average of $22.72 and a 200-day moving average of $24.71. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm has a market cap of $87.99 billion, a P/E ratio of -5.48 and a beta of 1.05.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction 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 sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several hedge funds and other institutional investors have recently made changes to their positions in INTC. Allspring Global Investments Holdings LLC boosted its position in Intel by 164.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 618,175 shares of the chip maker’s stock valued at $19,145,000 after buying an additional 384,440 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in Intel during the 2nd quarter worth $328,000. Cambridge Investment Research Advisors Inc. grew its position in Intel by 1.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 654,978 shares of the chip maker’s stock worth $20,285,000 after acquiring an additional 11,258 shares during the last quarter. Conning Inc. increased its holdings in Intel by 4.0% in the 2nd quarter. Conning Inc. now owns 26,620 shares of the chip maker’s stock worth $824,000 after purchasing an additional 1,036 shares in the last quarter. Finally, Breakwater Capital Group raised its position in Intel by 23.6% in the second quarter. Breakwater Capital Group now owns 16,595 shares of the chip maker’s stock valued at $514,000 after purchasing an additional 3,167 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.