Intel (NASDAQ:INTC) Trading 0.9% Higher – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) rose 0.9% during mid-day trading on Thursday . The stock traded as high as $21.13 and last traded at $21.00. Approximately 36,424,522 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 98,506,250 shares. The stock had previously closed at $20.81.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company cut their target price on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Rosenblatt Securities reissued a “sell” rating and issued a $20.00 price objective on shares of Intel in a research note on Thursday, January 30th. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Finally, UBS Group reduced their price objective on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus target price of $26.88.

Intel Trading Down 0.2 %

The business’s 50 day moving average price is $21.28 and its 200-day moving average price is $21.82. The company has a market cap of $89.96 billion, a price-to-earnings ratio of -4.74 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

Intel (NASDAQ:INTC) last posted its earnings results 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, research analysts forecast that Intel Co. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after acquiring an additional 6,143,164 shares in the last quarter. State Street Corp grew its holdings in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock worth $1,909,761,000 after purchasing an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intel by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock valued at $1,268,430,000 after purchasing an additional 4,793,927 shares during the last quarter. Finally, Norges Bank acquired a new position in Intel in the fourth quarter valued at about $1,246,569,000. Institutional investors own 64.53% of the company’s stock.

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.