Intel (NASDAQ:INTC) Trading 1.6% Higher – What’s Next?

Shares of Intel Co. (NASDAQ:INTC) shot up 1.6% during mid-day trading on Friday . The stock traded as high as $19.51 and last traded at $19.36. 25,745,568 shares were traded during mid-day trading, a decline of 58% from the average session volume of 61,629,254 shares. The stock had previously closed at $19.06.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. The Goldman Sachs Group lowered their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Truist Financial raised their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Northland Securities cut their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Daiwa America raised shares of Intel to a “hold” rating in a research report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $30.04.

Intel Stock Up 3.5 %

The firm’s fifty day moving average is $22.87 and its 200-day moving average is $24.93. The stock has a market capitalization of $85.10 billion, a PE ratio of -5.30 and a beta of 1.05. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its quarterly earnings results 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period last year, the company earned $0.28 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts predict that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intel

A number of hedge funds and other institutional investors have recently modified their holdings of INTC. Independent Solutions Wealth Management LLC increased its stake in Intel by 29.5% in the third 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. grew its holdings in Intel by 4.4% in 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 buying an additional 204,200 shares during the period. Retirement Systems of Alabama increased its stake in shares of 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 acquiring an additional 7,857 shares during the last quarter. Denver PWM LLC lifted its holdings in shares of Intel by 752.1% during the 3rd quarter. Denver PWM LLC now owns 26,425 shares of the chip maker’s stock worth $620,000 after acquiring an additional 23,324 shares during the period. Finally, World Investment Advisors LLC raised its stake in Intel by 59.6% during the third quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker’s stock worth $1,009,000 after purchasing an additional 16,046 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.