Intel (NASDAQ:INTC) Stock Price Up 7.2% Following Analyst Upgrade

Intel Co. (NASDAQ:INTC) traded up 7.2% during mid-day trading on Friday after Robert W. Baird raised their price target on the stock from $20.00 to $25.00. Robert W. Baird currently has a neutral rating on the stock. Intel traded as high as $23.12 and last traded at $23.08. 49,756,652 shares were traded during trading, a decline of 15% from the average session volume of 58,804,180 shares. The stock had previously closed at $21.52.

A number of other research firms have also recently commented on INTC. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday. TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Mizuho downgraded shares of Intel from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $22.00 in a report on Thursday, August 8th. The Goldman Sachs Group reduced their price objective on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Finally, Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Six investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.58.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intel

Several hedge funds and other institutional investors have recently bought and sold shares of INTC. Capital Performance Advisors LLP purchased a new stake in shares of Intel in the third quarter worth about $36,000. Philip James Wealth Mangement LLC purchased a new position in shares of Intel in the 3rd quarter valued at about $28,321,000. Beacon Harbor Wealth Advisors Inc. boosted its position in Intel by 11.0% during the third quarter. Beacon Harbor Wealth Advisors Inc. now owns 10,084 shares of the chip maker’s stock worth $237,000 after purchasing an additional 1,000 shares in the last quarter. Keynote Financial Services LLC grew its holdings in Intel by 13.2% in the third quarter. Keynote Financial Services LLC now owns 70,430 shares of the chip maker’s stock valued at $1,652,000 after purchasing an additional 8,239 shares during the period. Finally, Hara Capital LLC increased its position in shares of Intel by 21.2% in the third quarter. Hara Capital LLC now owns 8,367 shares of the chip maker’s stock valued at $196,000 after buying an additional 1,465 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Up 6.1 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The business’s 50 day moving average is $21.74 and its 200-day moving average is $27.12. The stock has a market cap of $97.62 billion, a price-to-earnings ratio of 100.35 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

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.