Intel (NASDAQ:INTC) Stock Price Up 1.2% – Here’s What Happened

Intel Co. (NASDAQ:INTC) traded up 1.2% on Wednesday . The company traded as high as $22.16 and last traded at $22.03. 19,245,330 shares traded hands during trading, a decline of 70% from the average session volume of 64,537,594 shares. The stock had previously closed at $21.77.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on INTC. Robert W. Baird raised their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Citigroup decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Bank of America reissued an “underperform” rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.81.

Intel Trading Down 3.4 %

The stock has a market cap of $89.84 billion, a P/E ratio of -5.60, a PEG ratio of 9.72 and a beta of 1.07. 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 business’s 50 day simple moving average is $21.30 and its two-hundred day simple moving average is $23.11.

Intel (NASDAQ:INTC) last posted 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). The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. As a group, analysts expect that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling

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 stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Finley Financial LLC acquired a new position in shares of Intel in the 4th quarter worth approximately $25,000. Quest Partners LLC raised its stake in Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the last quarter. West Financial Advisors LLC acquired a new position in Intel in the fourth quarter valued at $31,000. Groupama Asset Managment boosted its position in Intel by 6.3% during the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after acquiring an additional 8,084 shares during the last quarter. Finally, Sawyer & Company Inc acquired a new stake in Intel during the 4th quarter worth about $32,000. 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.