Intel (NASDAQ:INTC) Stock Price Up 6.5% – Here’s Why

Intel Co. (NASDAQ:INTC)’s share price was up 6.5% during trading on Friday . The company traded as high as $21.54 and last traded at $20.95. Approximately 74,572,966 shares were traded during mid-day trading, an increase of 32% from the average daily volume of 56,635,734 shares. The stock had previously closed at $19.67.

Wall Street Analysts Forecast Growth

INTC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Robert W. Baird boosted their price objective on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Northland Securities cut their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $29.88.

Intel Trading Up 8.2 %

The firm has a market cap of $91.80 billion, a PE ratio of -5.71, a PEG ratio of 8.53 and a beta of 1.07. The firm has a fifty day simple moving average of $21.78 and a two-hundred day simple moving average of $23.47. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion during 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 business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. Equities analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INTC. Edgestream Partners L.P. grew its position in shares of Intel by 74.1% in the 2nd quarter. Edgestream Partners L.P. now owns 12,043 shares of the chip maker’s stock worth $373,000 after buying an additional 5,124 shares during the period. SYSTM Wealth Solutions LLC grew its holdings in Intel by 13.0% in the second quarter. SYSTM Wealth Solutions LLC now owns 13,029 shares of the chip maker’s stock worth $404,000 after purchasing an additional 1,504 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Intel by 12.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 69,999 shares of the chip maker’s stock worth $2,168,000 after purchasing an additional 7,501 shares during the period. Sienna Gestion increased its stake in shares of Intel by 2.2% during the second quarter. Sienna Gestion now owns 265,757 shares of the chip maker’s stock valued at $8,227,000 after purchasing an additional 5,598 shares in the last quarter. Finally, Garner Asset Management Corp lifted its holdings in shares of Intel by 3.8% during the second quarter. Garner Asset Management Corp now owns 16,434 shares of the chip maker’s stock valued at $509,000 after purchasing an additional 604 shares during the last quarter. 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.