Intel (NASDAQ:INTC) Shares Up 6.5% – Still a Buy?

Intel Co. (NASDAQ:INTC)’s share price shot up 6.5% during mid-day trading on Friday . The stock traded as high as $21.54 and last traded at $20.95. 74,572,966 shares were traded during trading, an increase of 32% from the average session volume of 56,635,734 shares. The stock had previously closed at $19.67.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays cut their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday. Mizuho decreased their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, Robert W. Baird raised their price target on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.88.

Intel Trading Up 9.3 %

The business has a 50 day moving average of $21.55 and a 200 day moving average of $23.32. The firm has a market capitalization of $92.69 billion, a price-to-earnings ratio of -5.78, a PEG ratio of 8.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, research analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Institutional investors and hedge funds have recently modified their holdings of the business. William B. Walkup & Associates Inc. acquired a new position in shares of Intel in the second quarter valued at approximately $2,178,000. Geode Capital Management LLC lifted its position in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after purchasing an additional 204,200 shares during the period. Relyea Zuckerberg Hanson LLC increased its holdings in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after purchasing an additional 19,625 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.