Intel (NASDAQ:INTC) Trading 0.9% Higher – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INTC. Mizuho lowered their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, January 31st. Truist Financial cut their target price on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Finally, Cantor Fitzgerald increased their price target on Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 18th. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $26.88.

Intel Stock Performance

The stock has a market capitalization of $89.96 billion, a PE 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. The firm has a 50 day moving average of $21.28 and a 200-day moving average of $21.82.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. Research analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently modified their holdings of INTC. QSM Asset Management Ltd acquired a new stake in Intel during the fourth quarter valued at $7,011,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Intel during the 4th quarter worth about $70,850,000. Yoffe Investment Management LLC acquired a new stake in shares of Intel during the 4th quarter valued at about $357,000. Lakeshore Capital Group Inc. bought a new stake in shares of Intel in the 4th quarter valued at approximately $230,000. Finally, Ameriflex Group Inc. acquired a new position in Intel in the fourth quarter worth approximately $139,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.