Intel (NASDAQ:INTC) Stock Price Up 2%

Intel Co. (NASDAQ:INTC)’s stock price shot up 2% during mid-day trading on Wednesday . The stock traded as high as $35.18 and last traded at $34.95. Approximately 12,352,444 shares were traded during trading, a decline of 73% from the average daily volume of 46,472,547 shares. The stock had previously closed at $34.28.

Wall Street Analyst Weigh In

INTC has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 target price on shares of Intel in a research report on Friday, February 23rd. Bank of America cut their target price on shares of Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. UBS Group raised their price target on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Evercore ISI began coverage on Intel in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $40.00 price target for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.38.

Intel Price Performance

The stock has a fifty day moving average of $41.48 and a 200-day moving average of $42.36. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $145.87 billion, a P/E ratio of 89.62, a PEG ratio of 3.09 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The company had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. Intel’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share. Equities analysts predict that Intel Co. will post 0.61 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were given a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.45%. Intel’s payout ratio is 128.21%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the transaction, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Intel during the fourth quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD grew its holdings in Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Intel by 102.6% during the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after buying an additional 8,140,835 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Intel by 18.6% in the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after acquiring an additional 6,064,950 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after acquiring an additional 5,217,549 shares in the last quarter. 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.