Intel (NASDAQ:INTC) Trading 0.6% Higher – Time to Buy?

Intel Co. (NASDAQ:INTC) shares rose 0.6% during trading on Thursday . The company traded as high as $22.82 and last traded at $22.45. Approximately 12,589,089 shares were traded during trading, a decline of 79% from the average daily volume of 58,764,824 shares. The stock had previously closed at $22.31.

Analysts Set New Price Targets

A number of analysts have commented on INTC shares. Morgan Stanley reduced their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. UBS Group dropped their target price on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. The Goldman Sachs Group reduced their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday. Finally, HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.92.

Intel Trading Up 1.5 %

The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $21.40 and a 200-day moving average of $28.14. The firm has a market capitalization of $96.93 billion, a P/E ratio of 23.72 and a beta of 1.03.

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

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors grew its stake in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares during the period. Davis Selected Advisers grew its position in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after buying an additional 5,851,098 shares in the last quarter. Caxton Associates LP bought a new position in Intel during the 2nd quarter worth $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Intel by 2,681.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after purchasing an additional 4,272,395 shares in 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.