Intel (NASDAQ:INTC) Trading 2% Higher – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) were up 2% during trading on Monday . The stock traded as high as $23.27 and last traded at $23.14. Approximately 12,246,430 shares changed hands during trading, a decline of 79% from the average daily volume of 58,366,402 shares. The stock had previously closed at $22.68.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research analyst reports. Wedbush lowered their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a report on Friday, October 25th. Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Roth Mkm reduced their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six investment 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.80.

Intel Price Performance

The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company’s fifty day moving average is $21.69 and its 200 day moving average is $27.19. The stock has a market cap of $97.49 billion, a PE ratio of 23.85 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced 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 business had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share. As a group, sell-side analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. America First Investment Advisors LLC acquired a new position in Intel in the second quarter worth $25,000. Cyrus J. Lawrence LLC bought a new stake in Intel during the 2nd quarter valued at $27,000. Spartan Fund Management Inc. bought a new stake in shares of Intel during the 2nd quarter worth about $31,000. Financial Connections Group Inc. acquired a new stake in Intel in the second quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Intel in the second quarter valued at $33,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.