Intel (NASDAQ:INTC) Trading 7.2% Higher After Analyst Upgrade

Intel Co. (NASDAQ:INTC) traded up 7.2% during trading on Friday after Robert W. Baird raised their price target on the stock from $20.00 to $25.00. Robert W. Baird currently has a neutral rating on the stock. Intel traded as high as $23.12 and last traded at $23.08. Approximately 49,756,652 shares were traded during mid-day trading, a decline of 15% from the average session volume of 58,804,180 shares. The stock had previously closed at $21.52.

A number of other research analysts have also weighed in on the stock. Truist Financial decreased their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. The Goldman Sachs Group lowered their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, Daiwa America upgraded shares of 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.58.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intel

A number of hedge funds and other institutional investors have recently bought and sold shares of INTC. Guardian Capital Advisors LP raised its holdings in shares of Intel by 2.1% during the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after purchasing an additional 328 shares in the last quarter. Richard C. Young & CO. LTD. raised its stake in shares of Intel by 0.9% in the 1st quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock valued at $1,656,000 after acquiring an additional 338 shares in the last quarter. Key Financial Inc raised its stake in shares of Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after acquiring an additional 340 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. boosted its position in Intel by 5.0% during the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,151 shares of the chip maker’s stock worth $316,000 after purchasing an additional 342 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in Intel by 3.9% during the first quarter. Proficio Capital Partners LLC now owns 9,067 shares of the chip maker’s stock valued at $400,000 after purchasing an additional 343 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

The stock’s 50-day moving average price is $21.74 and its 200 day moving average price is $27.12. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a market cap of $97.62 billion, a P/E ratio of 100.35 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. As a group, research analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Company Profile

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.