Intel (NASDAQ:INTC) Trading Up 2.8% – Time to Buy?

Intel Co. (NASDAQ:INTC) shot up 2.8% during trading on Thursday . The company traded as high as $20.68 and last traded at $20.68. 25,728,777 shares changed hands during trading, a decline of 58% from the average session volume of 61,425,883 shares. The stock had previously closed at $20.12.

Wall Street Analyst Weigh In

INTC has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Mizuho lifted their price objective on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.04.

Intel Stock Down 2.1 %

The firm has a market capitalization of $87.73 billion, a PE ratio of -5.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The company has a fifty day simple moving average of $23.12 and a two-hundred day simple moving average of $25.23.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 firm’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. Analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’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 directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after acquiring an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Primecap Management Co. CA grew its stake in Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after buying an additional 1,697,550 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares in the last quarter. Hedge funds and other 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.