Intel (NASDAQ:INTC) Shares Gap Up After Analyst Upgrade

Shares of Intel Co. (NASDAQ:INTC) gapped up prior to trading on Friday after Mizuho raised their price target on the stock from $22.00 to $23.00. The stock had previously closed at $21.52, but opened at $23.00. Mizuho currently has a neutral rating on the stock. Intel shares last traded at $22.75, with a volume of 31,136,098 shares changing hands.

A number of other brokerages have also recently issued reports on INTC. Cantor Fitzgerald dropped their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. UBS Group dropped their price target on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Wedbush reduced their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Barclays decreased their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.12.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

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

Intel Stock Up 7.8 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock’s 50-day moving average price is $21.79 and its two-hundred day moving average price is $27.02. The stock has a market capitalization of $99.20 billion, a PE ratio of -6.24 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 analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the business earned ($0.05) EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, 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.