Intel (NASDAQ:INTC) Trading Up 2.4% After Analyst Upgrade

Intel Corporation (NASDAQ:INTC) shares shot up 2.4% during mid-day trading on Thursday after Mizuho raised their price target on the stock from $22.00 to $23.00. Mizuho currently has a neutral rating on the stock. Intel traded as high as $22.57 and last traded at $22.42. 29,462,837 shares traded hands during trading, a decline of 69% from the average session volume of 95,250,297 shares. The stock had previously closed at $21.88.

A number of other brokerages have also recently issued reports on INTC. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, April 25th. Wedbush cut their price objective on shares of Intel from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Rosenblatt Securities cut their price objective on shares of Intel from $18.00 to $14.00 and set a “sell” rating for the company in a research report on Friday, April 25th. Citigroup reissued a “sell” rating on shares of Intel in a research report on Friday, April 25th. Finally, Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INTC. Norges Bank purchased a new position in shares of Intel in the fourth quarter valued at $1,246,569,000. Nuveen LLC acquired a new stake in Intel in the first quarter valued at $538,430,000. Price T Rowe Associates Inc. MD raised its holdings in Intel by 99.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,829,385 shares of the chip maker’s stock valued at $677,426,000 after acquiring an additional 14,901,457 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in Intel in the fourth quarter valued at $289,752,000. Finally, Two Sigma Investments LP acquired a new stake in Intel in the fourth quarter valued at $237,457,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Up 2.4%

The stock has a market capitalization of $97.73 billion, a price-to-earnings ratio of -5.00 and a beta of 1.15. The firm’s fifty day moving average is $20.99 and its 200-day moving average is $21.17. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.12. The firm had revenue of $12.67 billion for the quarter, compared to analysts’ expectations of $12.26 billion. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. On average, sell-side analysts predict that Intel Corporation will post -0.11 earnings per share for the current year.

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.