Intel (NASDAQ:INTC) Trading Up 6.1%

Shares of Intel Co. (NASDAQ:INTC) shot up 6.1% during mid-day trading on Tuesday . The company traded as high as $22.35 and last traded at $22.18. 81,222,812 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 55,123,078 shares. The stock had previously closed at $20.91.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen raised Intel to a “hold” rating in a research note on Monday. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. Finally, Roth Mkm cut their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.04.

Intel Stock Performance

The business has a fifty day moving average price of $24.17 and a 200-day moving average price of $31.22. The stock has a market capitalization of $88.42 billion, a P/E ratio of 21.64 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts expect that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.41%. Intel’s dividend payout ratio is presently 52.08%.

Insider Transactions at Intel

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of INTC. Burkett Financial Services LLC bought a new position in Intel during the fourth quarter valued at $27,000. Frazier Financial Advisors LLC bought a new stake in Intel in the fourth quarter worth about $27,000. Tributary Capital Management LLC purchased a new position in shares of Intel during the first quarter valued at approximately $27,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Intel during the first quarter valued at approximately $36,000. Finally, America First Investment Advisors LLC purchased a new stake in shares of Intel in the second quarter worth approximately $25,000. 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.