Intel (NASDAQ:INTC) Trading Up 1.1% – What’s Next?

Intel Co. (NASDAQ:INTC)’s stock price traded up 1.1% during trading on Thursday . The company traded as high as $20.43 and last traded at $20.27. 11,593,224 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 61,639,930 shares. The stock had previously closed at $20.05.

Analysts Set New Price Targets

INTC has been the topic of several research reports. Bank of America restated an “underperform” rating and set a $21.00 price objective on shares of Intel in a research report on Tuesday, December 3rd. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Truist Financial upped their price objective on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. TD Cowen upgraded Intel to a “hold” rating in a research report on Monday, September 16th. Finally, Northland Securities cut their target price on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.04.

Intel Stock Up 0.5 %

The company’s fifty day simple moving average is $22.40 and its 200 day simple moving average is $24.24. 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 firm has a market capitalization of $86.95 billion, a PE ratio of -5.42 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its 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). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INTC. Cacti Asset Management LLC increased its holdings in shares of Intel by 6.0% during the fourth quarter. Cacti Asset Management LLC now owns 123,100 shares of the chip maker’s stock valued at $2,440,000 after acquiring an additional 7,000 shares in the last quarter. Independent Solutions Wealth Management LLC grew its position in Intel by 29.5% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 18,895 shares of the chip maker’s stock valued at $443,000 after purchasing an additional 4,304 shares during the last quarter. Principal Financial Group Inc. increased its stake in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Retirement Systems of Alabama increased its stake in Intel by 0.8% during the 3rd quarter. Retirement Systems of Alabama now owns 946,906 shares of the chip maker’s stock valued at $22,214,000 after purchasing an additional 7,857 shares in the last quarter. Finally, Denver PWM LLC raised its holdings in Intel by 752.1% in the third quarter. Denver PWM LLC now owns 26,425 shares of the chip maker’s stock worth $620,000 after buying an additional 23,324 shares during the last quarter. 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.