Intel (NASDAQ:INTC) Stock Price Up 6.5% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s share price shot up 6.5% during trading on Friday . The company traded as high as $21.54 and last traded at $20.95. 74,572,966 shares traded hands during mid-day trading, an increase of 32% from the average session volume of 56,635,734 shares. The stock had previously closed at $19.67.

Analyst Upgrades and Downgrades

INTC has been the topic of several recent analyst reports. Barclays cut their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday. Robert W. Baird increased their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Mizuho lowered their target price on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Northland Securities decreased their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.88.

Intel Stock Up 9.3 %

The stock has a market cap of $92.69 billion, a P/E ratio of -5.78, a P/E/G ratio of 8.53 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average is $21.55 and its 200 day moving average is $23.32.

Intel (NASDAQ:INTC) last posted 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 return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were 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 in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intel

A number of institutional investors have recently added to or reduced their stakes in the company. IVC Wealth Advisors LLC raised its stake in shares of Intel by 21.9% in the fourth quarter. IVC Wealth Advisors LLC now owns 17,373 shares of the chip maker’s stock valued at $348,000 after purchasing an additional 3,116 shares in the last quarter. Mutual Advisors LLC raised its stake in shares of Intel by 15.9% in the 4th quarter. Mutual Advisors LLC now owns 194,173 shares of the chip maker’s stock valued at $3,819,000 after buying an additional 26,671 shares in the last quarter. Traynor Capital Management Inc. lifted its holdings in shares of Intel by 128.1% during the 4th quarter. Traynor Capital Management Inc. now owns 26,840 shares of the chip maker’s stock worth $538,000 after acquiring an additional 15,074 shares during the period. SG Americas Securities LLC boosted its position in shares of Intel by 209.3% during the 4th quarter. SG Americas Securities LLC now owns 485,672 shares of the chip maker’s stock valued at $9,738,000 after acquiring an additional 929,929 shares in the last quarter. Finally, Evolution Wealth Advisors LLC bought a new stake in Intel in the fourth quarter valued at about $225,000. 64.53% of the stock is owned by institutional investors and hedge funds.

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.