Intel (NASDAQ:INTC) Shares Gap Up on Analyst Upgrade

Shares of Intel Co. (NASDAQ:INTC) gapped up prior to trading on Friday after Mizuho raised their price target on the stock from $22.00 to $23.00. The stock had previously closed at $21.52, but opened at $23.00. Mizuho currently has a neutral rating on the stock. Intel shares last traded at $22.75, with a volume of 31,136,098 shares.

Several other brokerages have also recently weighed in on INTC. Susquehanna lowered their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Morgan Stanley lowered their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group dropped their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Finally, Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.12.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction dated 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 approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intel

Institutional investors have recently bought and sold shares of the stock. William B. Walkup & Associates Inc. acquired a new stake in shares of Intel during the 2nd quarter valued at $2,178,000. Fortis Group Advisors LLC raised its holdings in shares of Intel by 1,052.9% during the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after acquiring an additional 157,991 shares in the last quarter. Private Advisory Group LLC acquired a new stake in Intel during the third quarter valued at $8,045,000. Sanibel Captiva Trust Company Inc. grew its stake in Intel by 21.1% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares in the last quarter. Finally, Forsta AP Fonden increased its position in Intel by 4.6% in the 3rd quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock worth $22,267,000 after purchasing an additional 41,900 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

The firm has a 50-day simple moving average of $21.79 and a two-hundred day simple moving average of $27.02. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $99.20 billion, a price-to-earnings ratio of -6.24 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal 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.