Intel (NASDAQ:INTC) Stock Price Up 1.8% – Here’s What Happened

by · The Markets Daily

Intel Co. (NASDAQ:INTC – Get Free Report)’s stock price was up 1.8% on Friday . The company traded as high as $24.08 and last traded at $24.07. Approximately 9,778,599 shares traded hands during trading, a decline of 84% from the average daily volume of 59,839,098 shares. The stock had previously closed at $23.65.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial raised their price objective on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Barclays lowered their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Mizuho lifted their target price on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Northland Securities reduced their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.12.

Read Our Latest Stock Report on Intel

Intel Stock Up 1.1 %

The business’s fifty day simple moving average is $23.43 and its 200 day simple moving average is $25.97. The stock has a market cap of $103.12 billion, a price-to-earnings ratio of -6.47 and a beta of 1.03. 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 – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the prior year, the company posted $0.28 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Intel

Several large investors have recently modified their holdings of the business. America First Investment Advisors LLC bought a new position in Intel in the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC bought a new stake in Intel in the 2nd quarter valued at $27,000. Quest Partners LLC boosted its stake in 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 period. Spartan Fund Management Inc. bought a new position in Intel during the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Intel in the 2nd quarter valued at about $32,000. 64.53% of the stock is currently owned by institutional investors.

About Intel

(Get Free Report)

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.

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