Intel (NASDAQ:INTC) Shares Up 7.2% After Analyst Upgrade

Shares of Intel Co. (NASDAQ:INTC) shot up 7.2% on Friday 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 $23.12 and last traded at $23.08. 49,756,652 shares were traded during mid-day trading, a decline of 15% from the average session volume of 58,804,180 shares. The stock had previously closed at $21.52.

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday. Roth Mkm reduced their price target on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. UBS Group dropped their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley dropped their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average target price of $30.12.

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 that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intel

A number of hedge funds have recently bought and sold shares of INTC. America First Investment Advisors LLC purchased a new stake in shares of Intel during the 2nd quarter valued at about $25,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the 2nd quarter valued at $27,000. Spartan Fund Management Inc. bought a new stake in Intel in the second quarter worth $31,000. Financial Connections Group Inc. purchased a new position in Intel during the second quarter worth $32,000. Finally, Triad Wealth Partners LLC bought a new position in Intel during the second quarter valued at $33,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Up 7.8 %

The stock has a market cap of $99.20 billion, a P/E ratio of -6.24 and a beta of 1.03. The company’s fifty day moving average price is $21.79 and its 200-day moving average price is $27.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

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

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.