Intel (NASDAQ:INTC) Stock Price Up 1% – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) traded up 1% during trading on Wednesday . The stock traded as high as $24.50 and last traded at $24.39. 12,259,436 shares changed hands during trading, a decline of 80% from the average session volume of 59,925,602 shares. The stock had previously closed at $24.16.

Analyst Upgrades and Downgrades

Several analysts have issued reports on INTC shares. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Robert W. Baird upped their price objective on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. cut their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.12.

Intel Trading Up 0.4 %

The stock’s 50-day simple moving average is $22.47 and its 200-day simple moving average is $26.42. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the business earned $0.28 earnings per share. On average, analysts forecast that Intel Co. will post -0.83 earnings per share for the current year.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Institutional investors have recently bought and sold shares of the business. America First Investment Advisors LLC purchased a new position in Intel during the second quarter worth approximately $25,000. Cyrus J. Lawrence LLC purchased a new position in shares of Intel in the 2nd quarter valued at about $27,000. Quest Partners LLC lifted its position in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. purchased a new position in shares of Intel during the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in Intel during the 2nd quarter valued at approximately $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.