Intel (NASDAQ:INTC) Trading Up 1% – Still a Buy?

Intel Co. (NASDAQ:INTC)’s share price shot up 1% during mid-day trading on Thursday . The stock traded as high as $20.65 and last traded at $20.60. 11,289,452 shares changed hands during trading, a decline of 82% from the average session volume of 61,630,883 shares. The stock had previously closed at $20.40.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stifel Nicolaus restated a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Truist Financial raised their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Robert W. Baird increased their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group reduced their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.04.

Intel Stock Up 0.7 %

The firm has a market cap of $88.63 billion, a price-to-earnings ratio of -5.52 and a beta of 1.05. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $22.64 and its 200 day moving average is $24.60.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. Analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after acquiring an additional 13,035,566 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Davis Selected Advisers grew its position in shares of Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. Finally, State Street Corp grew its holdings in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. Hedge funds and other institutional investors 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.