Intel (NASDAQ:INTC) Shares Up 4.8% – What’s Next?

Intel Co. (NASDAQ:INTC)’s stock price rose 4.8% during mid-day trading on Wednesday . The stock traded as high as $24.87 and last traded at $24.43. Approximately 43,818,277 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 59,431,574 shares. The stock had previously closed at $23.32.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wedbush dropped their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Daiwa America upgraded shares of Intel to a “hold” rating in a report on Monday, August 26th. New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. UBS Group dropped their target price on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.12.

Intel Trading Up 7.4 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The business’s 50-day moving average is $22.01 and its two-hundred day moving average is $26.72.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. Equities analysts predict that Intel Co. will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently modified their holdings of INTC. America First Investment Advisors LLC purchased a new position in shares of Intel during the second quarter worth $25,000. Cyrus J. Lawrence LLC purchased a new position in Intel during the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. acquired a new position in Intel in the 2nd quarter valued at about $31,000. Financial Connections Group Inc. purchased a new stake in Intel during the second quarter worth about $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Intel during the second quarter worth about $33,000. 64.53% of the stock is currently owned by hedge funds and other 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.