Intel (NASDAQ:INTC) Stock Price Up 4.8% – Time to Buy?

Intel Co. (NASDAQ:INTC)’s stock price shot up 4.8% during mid-day trading on Wednesday . The company traded as high as $24.87 and last traded at $24.43. 43,818,277 shares were traded during mid-day trading, a decline of 26% from the average session volume of 59,431,574 shares. The stock had previously closed at $23.32.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. UBS Group decreased their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Finally, Morgan Stanley lowered their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Six 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.12.

Intel Price Performance

The company has a fifty day moving average of $22.01 and a two-hundred day moving average of $26.72. 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 released its 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts predict that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intel

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Guardian Capital Advisors LP lifted its stake in shares of Intel by 2.1% in the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock worth $708,000 after buying an additional 328 shares during the last quarter. Richard C. Young & CO. LTD. raised its holdings in Intel by 0.9% in the 1st quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock worth $1,656,000 after acquiring an additional 338 shares during the period. Key Financial Inc lifted its position in Intel by 4.1% during the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after acquiring an additional 340 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co lifted its position in Intel by 1.4% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after acquiring an additional 348 shares during the last quarter. Finally, Cypress Asset Management Inc. TX grew its position in shares of Intel by 1.6% in the first quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock valued at $1,015,000 after purchasing an additional 350 shares during the last quarter. Institutional investors and hedge funds 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.