Intel (NASDAQ:INTC) Trading 9.3% Higher – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) rose 9.3% during trading on Monday . The company traded as high as $21.62 and last traded at $21.49. Approximately 163,396,661 shares changed hands during mid-day trading, an increase of 221% from the average daily volume of 50,908,592 shares. The stock had previously closed at $19.67.

Analysts Set New Price Targets

Several analysts have commented on INTC shares. The Goldman Sachs Group decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday. Mizuho cut their target price on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Truist Financial lifted their target price on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and an average price target of $28.81.

Intel Stock Performance

The firm’s 50-day moving average price is $21.48 and its two-hundred day moving average price is $23.20. 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 stock has a market cap of $93.89 billion, a price-to-earnings ratio of -5.85, a PEG ratio of 9.46 and a beta of 1.07.

Intel (NASDAQ:INTC) last posted 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 company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the company earned $0.28 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Intel

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 transaction of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Intel

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp increased its stake in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. Geode Capital Management LLC increased its stake in Intel by 4.6% during the third 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intel by 28.2% during the third 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 worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Van ECK Associates Corp increased its stake in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after buying an additional 9,422,136 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.