Intel (NASDAQ:INTC) Stock Price Up 2%

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

Analysts Set New Price Targets

Several research firms have commented on INTC. The Goldman Sachs Group boosted their target price on Intel from $34.00 to $39.00 and gave the stock a “sell” rating in a report on Friday, January 26th. HSBC dropped their target price on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Morgan Stanley upped their price target on Intel from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, Raymond James lowered their price target on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Four investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.14.

Intel Price Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The firm has a 50-day moving average of $41.11 and a 200-day moving average of $42.25. The stock has a market cap of $148.45 billion, a PE ratio of 90.03, a PEG ratio of 3.13 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Research analysts predict that Intel Co. will post 0.6 EPS for the current year.

Insider Activity at Intel

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

Institutional Investors Weigh In On Intel

Several institutional investors have recently modified their holdings of INTC. Norges Bank bought a new stake in shares of Intel in the 4th quarter valued at approximately $2,424,202,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after buying an additional 31,575,084 shares during the period. California Public Employees Retirement System raised its holdings in shares of Intel by 102.6% in 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 during the period. Bank of New York Mellon Corp raised its holdings 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 worth $1,376,520,000 after buying an additional 6,064,950 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after buying an additional 5,217,549 shares during the period. 64.53% of the stock is owned by institutional investors.

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.