Intel (NASDAQ:INTC) Trading Up 1.6% - Still a Buy?

Intel Co. (NASDAQ:INTC - Get Free Report)'s share price was up 1.6% during mid-day trading on Friday . The stock traded as high as $19.51 and last traded at $19.36. Approximately 25,745,568 shares traded hands during trading, a decline of 58% from the average daily volume of 61,629,254 shares. The stock had previously closed at $19.06.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of research analyst reports. Bank of America reissued an "underperform" rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Rosenblatt Securities reaffirmed a "sell" rating and set a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. Truist Financial raised their price objective on Intel from $25.00 to $26.00 and gave the company a "hold" rating in a report on Friday, November 1st. The Goldman Sachs Group reduced their price target on shares of Intel from $22.00 to $21.00 and set a "sell" rating on the stock in a research report on Thursday, October 17th. Finally, Stifel Nicolaus restated a "hold" rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a report on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $30.04.

Intel Stock Performance

The firm has a market capitalization of $84.19 billion, a P/E ratio of -5.25 and a beta of 1.05. The company has a 50-day simple moving average of $22.87 and a two-hundred day simple moving average of $24.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly 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 return on equity of 1.71% and a negative net margin of 29.42%. Intel's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share. As a group, equities analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its stake in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker's stock valued at $2,410,166,000 after buying an additional 1,697,550 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intel by 28.2% in 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 worth $1,371,692,000 after buying an additional 12,865,308 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker's stock worth $967,426,000 after buying an additional 9,422,136 shares during the last quarter. Institutional investors own 64.53% of the company's stock.

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.