Intel (NASDAQ:INTC) Shares Up 0.6% - Here's What Happened

Intel Co. (NASDAQ:INTC - Get Free Report) shares were up 0.6% during trading on Monday . The stock traded as high as $21.05 and last traded at $20.92. Approximately 78,539,132 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 73,161,896 shares. The stock had previously closed at $20.80.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INTC shares. Rosenblatt Securities reiterated a "sell" rating and set a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. The Goldman Sachs Group decreased their price objective on Intel from $22.00 to $21.00 and set a "sell" rating for the company in a report on Thursday, October 17th. Northland Securities dropped their target price on shares of Intel from $42.00 to $28.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Daiwa America upgraded shares of Intel to a "hold" rating in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intel from $27.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, October 3rd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $30.04.

Intel Trading Up 0.6 %

The company has a market cap of $90.23 billion, a PE ratio of -5.62 and a beta of 1.05. The company has a 50-day moving average of $23.34 and a 200 day moving average of $25.51. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC - Get Free Report) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analysts' expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company's revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. Analysts predict that Intel Co. will post -0.87 earnings per share for the current year.

Insider Activity

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

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker's stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker's stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Intel by 224.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker's stock valued at $244,302,000 after acquiring an additional 7,207,785 shares during the period. Davis Selected Advisers raised its position in shares of Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker's stock worth $391,533,000 after acquiring an additional 5,851,098 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.

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