Intel (NASDAQ:INTC) Trading 1.7% Higher – Here’s What Happened

Shares of Intel Co. (NASDAQ:INTC) rose 1.7% during mid-day trading on Monday . The stock traded as high as $24.28 and last traded at $24.05. Approximately 36,616,750 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 59,965,563 shares. The stock had previously closed at $23.65.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Northland Securities cut their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Argus downgraded Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, The Goldman Sachs Group lowered their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.12.

Intel Price Performance

The business’s fifty day simple moving average is $23.48 and its 200 day simple moving average is $25.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a market cap of $103.73 billion, a price-to-earnings ratio of -6.47 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. Research analysts predict that Intel Co. will post -0.87 EPS 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 that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intel

Several large investors have recently added to or reduced their stakes in the company. America First Investment Advisors LLC acquired a new position in Intel during the 2nd quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the second quarter valued at $27,000. Quest Partners LLC grew its position in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of Intel in the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new position in Intel in the 2nd quarter worth about $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.