Intel (NASDAQ:INTC) Stock Price Up 1.7% – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) traded up 1.7% during trading on Tuesday . The company traded as high as $20.40 and last traded at $20.15. 15,667,047 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 61,499,074 shares. The stock had previously closed at $19.82.

Analysts Set New Price Targets

A number of brokerages have recently commented on INTC. Bank of America reaffirmed an “underperform” rating and set a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Northland Securities lowered their target price on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Mizuho raised their price target on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.04.

Intel Stock Performance

The firm has a market capitalization of $85.79 billion, a price-to-earnings ratio of -5.35 and a beta of 1.05. The firm’s 50 day simple moving average is $22.49 and its 200 day simple moving average is $24.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last posted 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). The business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Sell-side analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its position in shares of Intel by 53.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 41,376 shares of the chip maker’s stock worth $1,276,000 after purchasing an additional 14,343 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Intel by 3.7% in the second quarter. Aptus Capital Advisors LLC now owns 40,254 shares of the chip maker’s stock valued at $1,247,000 after acquiring an additional 1,454 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Intel by 2.9% in the second quarter. D.A. Davidson & CO. now owns 493,554 shares of the chip maker’s stock worth $15,285,000 after acquiring an additional 14,067 shares during the last quarter. Willis Johnson & Associates Inc. purchased a new stake in shares of Intel during the second quarter worth approximately $218,000. Finally, Affiance Financial LLC raised its stake in Intel by 8.7% in the 2nd quarter. Affiance Financial LLC now owns 8,210 shares of the chip maker’s stock valued at $254,000 after purchasing an additional 660 shares during the last quarter. Hedge funds and other 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.