Intel (NASDAQ:INTC) Stock Price Up 2.5% – Here’s Why

Intel Co. (NASDAQ:INTC) shares rose 2.5% on Wednesday . The stock traded as high as $21.17 and last traded at $20.28. Approximately 52,612,128 shares traded hands during trading, a decline of 46% from the average daily volume of 97,664,563 shares. The stock had previously closed at $19.78.

Wall Street Analysts Forecast Growth

INTC has been the topic of several recent research reports. Stifel Nicolaus cut their target price on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $26.88.

Intel Trading Up 4.4 %

The business’s 50-day moving average is $21.29 and its two-hundred day moving average is $21.81. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $89.45 billion, a PE ratio of -4.71 and a beta of 1.02.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, analysts predict that Intel Co. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Intel

Several institutional investors and hedge funds have recently bought and sold shares of INTC. Cornerstone Advisory LLC increased its stake in shares of Intel by 4.3% in the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker’s stock valued at $198,000 after purchasing an additional 409 shares during the period. Evergreen Capital Management LLC grew its holdings in shares of Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker’s stock worth $840,000 after acquiring an additional 419 shares during the last quarter. Dunhill Financial LLC boosted its holdings in shares of Intel by 22.6% in the third quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after buying an additional 438 shares during the period. Federated Hermes Inc. boosted its stake in Intel by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker’s stock worth $3,263,000 after purchasing an additional 456 shares during the period. Finally, Beaton Management Co. Inc. grew its holdings in shares of Intel by 2.2% during the third quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock valued at $544,000 after buying an additional 500 shares in the last quarter. 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.