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

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INTC. Stifel Nicolaus reissued a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. UBS Group lowered their target price on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. 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 report on Friday, November 1st. Morgan Stanley dropped their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and an average target price of $30.12.

Intel Trading Up 0.4 %

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

Intel (NASDAQ:INTC) last issued its quarterly 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 business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. Equities analysts anticipate that Intel Co. will post -0.83 earnings per share for the current year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. America First Investment Advisors LLC purchased a new position in Intel during the 2nd quarter valued at $25,000. Cyrus J. Lawrence LLC purchased a new position in Intel during the second quarter valued at $27,000. Quest Partners LLC raised its position in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. bought a new position in shares of Intel in the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Intel in the second quarter worth $32,000. 64.53% of the stock is currently owned by 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.