Intel (NASDAQ:INTC) Trading 3.8% Higher – Here’s Why

Intel Co. (NASDAQ:INTC) rose 3.8% on Friday . The company traded as high as $23.34 and last traded at $23.19. Approximately 22,396,273 shares were traded during trading, a decline of 62% from the average daily volume of 58,352,273 shares. The stock had previously closed at $22.34.

Analyst Ratings Changes

INTC has been the topic of a number of recent analyst reports. Barclays lowered their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Morgan Stanley reduced their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Roth Mkm reduced their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, TD Cowen raised shares of Intel to a “hold” rating in a research report on Monday, September 16th. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.15.

Intel Price Performance

The company has a 50 day moving average price of $21.62 and a 200-day moving average price of $27.53. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a market cap of $96.98 billion, a price-to-earnings ratio of 98.61 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the company earned ($0.05) EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities research analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is presently 217.40%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

A number of institutional investors and hedge funds have recently modified their holdings of INTC. Vicus Capital boosted its holdings in shares of Intel by 39.5% during the 1st quarter. Vicus Capital now owns 13,674 shares of the chip maker’s stock worth $604,000 after buying an additional 3,872 shares in the last quarter. Founders Financial Securities LLC lifted its holdings in shares of Intel by 9.5% in the 1st quarter. Founders Financial Securities LLC now owns 35,381 shares of the chip maker’s stock worth $1,563,000 after purchasing an additional 3,079 shares in the last quarter. LVW Advisors LLC lifted its holdings in shares of Intel by 32.6% in the 1st quarter. LVW Advisors LLC now owns 11,479 shares of the chip maker’s stock worth $507,000 after purchasing an additional 2,823 shares in the last quarter. Compass Ion Advisors LLC lifted its holdings in shares of Intel by 1.7% in the 1st quarter. Compass Ion Advisors LLC now owns 33,486 shares of the chip maker’s stock worth $1,479,000 after purchasing an additional 555 shares in the last quarter. Finally, Oak Asset Management LLC lifted its stake in Intel by 0.4% during the 1st quarter. Oak Asset Management LLC now owns 134,058 shares of the chip maker’s stock valued at $5,921,000 after acquiring an additional 513 shares in the last quarter. 64.53% of the stock is currently owned by 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.