Intel (NASDAQ:INTC) Trading 6.2% Higher – Here’s What Happened

Shares of Intel Co. (NASDAQ:INTC) rose 6.2% during trading on Monday . The stock traded as high as $26.15 and last traded at $25.53. Approximately 63,713,605 shares were traded during trading, a decline of 37% from the average daily volume of 101,690,023 shares. The stock had previously closed at $24.05.

Analysts Set New Price Targets

INTC has been the topic of several recent analyst reports. Barclays dropped their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company reduced their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Citigroup lowered their price target on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Truist Financial reduced their price objective on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.04.

Intel Stock Performance

The company has a market cap of $112.68 billion, a P/E ratio of -5.94 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The business has a 50-day moving average of $21.45 and a two-hundred day moving average of $21.87.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, sell-side analysts predict that Intel Co. will post -0.11 EPS for the current fiscal year.

Institutional Trading of Intel

A number of institutional investors have recently made changes to their positions in the company. Beaton Management Co. Inc. raised its position in shares of Intel by 2.2% during the 3rd quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock valued at $544,000 after buying an additional 500 shares during the period. Cassady Schiller Wealth Management LLC grew its position in shares of Intel by 72.6% during the third quarter. Cassady Schiller Wealth Management LLC now owns 2,406 shares of the chip maker’s stock worth $56,000 after buying an additional 1,012 shares in the last quarter. Frazier Financial Advisors LLC raised its holdings in shares of Intel by 1,097.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 5,570 shares of the chip maker’s stock valued at $131,000 after purchasing an additional 5,105 shares in the last quarter. Accent Capital Management LLC grew its stake in shares of Intel by 415.1% during the third quarter. Accent Capital Management LLC now owns 9,529 shares of the chip maker’s stock worth $224,000 after purchasing an additional 7,679 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the last quarter. 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.