Intel (NASDAQ:INTC) Stock Price Up 2.5% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price shot up 2.5% during mid-day trading on Wednesday . The company traded as high as $21.17 and last traded at $20.28. 52,612,128 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 97,664,563 shares. The stock had previously closed at $19.78.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. UBS Group decreased their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Rosenblatt Securities reiterated a “sell” rating and issued a $20.00 price objective on shares of Intel in a research note on Thursday, January 30th. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, January 31st. Finally, Bank of America reiterated an “underperform” rating and set a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.88.

Intel Price Performance

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 company has a fifty day moving average price of $21.29 and a two-hundred day moving average price of $21.81. The company has a market cap of $89.45 billion, a P/E ratio of -4.71 and a beta of 1.02.

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

Institutional Investors Weigh In On Intel

A number of hedge funds and other institutional investors have recently modified their holdings of INTC. Finley Financial LLC acquired a new stake in Intel in the 4th quarter worth about $25,000. Synergy Investment Management LLC acquired a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. Vermillion Wealth Management Inc. bought a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. BankPlus Trust Department acquired a new stake in Intel during the fourth quarter worth approximately $28,000. Finally, Keystone Financial Group Inc. bought a new position in Intel during the 4th quarter worth $29,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.