Intel (NASDAQ:INTC) Trading Up 9.3% – Still a Buy?

Intel Co. (NASDAQ:INTC)’s share price shot up 9.3% during mid-day trading on Monday . The company traded as high as $21.62 and last traded at $21.49. 163,396,661 shares were traded during trading, an increase of 221% from the average session volume of 50,908,592 shares. The stock had previously closed at $19.67.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INTC shares. Northland Securities lowered their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Mizuho reduced their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Barclays cut their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and a consensus price target of $29.88.

Intel Trading Up 9.3 %

The firm has a market cap of $92.69 billion, a P/E ratio of -5.78, a P/E/G ratio of 8.53 and a beta of 1.07. The company’s 50 day simple moving average is $21.55 and its 200-day simple moving average is $23.27. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

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

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction 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. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of hedge funds have recently added to or reduced their stakes in the business. William B. Walkup & Associates Inc. purchased a new stake in shares of Intel in the 2nd quarter worth approximately $2,178,000. Geode Capital Management LLC boosted its position in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares in the last quarter. Relyea Zuckerberg Hanson LLC raised its position in shares of Intel by 211.6% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after acquiring an additional 19,625 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after purchasing an additional 204,200 shares during the last quarter. Finally, Swiss National Bank boosted its position in Intel by 0.3% during the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares in the last quarter. 64.53% of the stock is 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.