Intel (NASDAQ:INTC) Trading 1.5% Higher – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s share price was up 1.5% during trading on Friday . The company traded as high as $22.82 and last traded at $22.78. Approximately 8,669,745 shares changed hands during trading, a decline of 85% from the average daily volume of 58,678,047 shares. The stock had previously closed at $22.44.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Susquehanna decreased their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. The Goldman Sachs Group decreased 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, Truist Financial dropped their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.92.

Intel Stock Up 0.9 %

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 firm’s 50 day moving average price is $21.34 and its two-hundred day moving average price is $28.29. The company has a market cap of $96.38 billion, a P/E ratio of 23.73 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Buying and Selling at Intel

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INTC. William B. Walkup & Associates Inc. bought a new stake in Intel during the second quarter worth $2,178,000. Private Advisory Group LLC purchased a new position in Intel during the 3rd quarter worth $8,045,000. Brookstone Capital Management grew its stake in shares of Intel by 65.2% in the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after acquiring an additional 27,274 shares in the last quarter. Sanibel Captiva Trust Company Inc. raised its holdings in shares of Intel by 21.1% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares during the last quarter. Finally, Czech National Bank lifted its position in shares of Intel by 7.2% during the third quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock valued at $20,392,000 after purchasing an additional 58,021 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.