Intel (NASDAQ:INTC) Stock Price Up 10.1% After Analyst Upgrade

Intel Co. (NASDAQ:INTC) was up 10.1% during trading on Tuesday after Cantor Fitzgerald raised their price target on the stock from $22.00 to $29.00. Cantor Fitzgerald currently has a neutral rating on the stock. Intel traded as high as $26.24 and last traded at $25.98. Approximately 113,452,201 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 88,714,258 shares. The stock had previously closed at $23.60.

A number of other equities analysts also recently commented on INTC. Roth Mkm reduced their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. HSBC raised Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Northland Securities lowered their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Robert W. Baird increased their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company decreased their target price on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.88.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares in the last quarter. State Street Corp lifted its holdings in shares of Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. Geode Capital Management LLC boosted 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 acquiring an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intel by 8.2% in the fourth 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 acquiring an additional 4,793,927 shares during the last quarter. Finally, Norges Bank acquired a new position in Intel during the fourth quarter valued at approximately $1,246,569,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Up 16.1 %

The firm has a 50 day simple moving average of $20.38 and a two-hundred day simple moving average of $21.52. The stock has a market capitalization of $118.60 billion, a P/E ratio of -6.25 and a beta of 1.08. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. On average, equities research analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

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.