Intel (NASDAQ:INTC) Stock Price Up 3.4% After Earnings Beat

Intel Co. (NASDAQ:INTC - Get Free Report) rose 3.4% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $21.41 and last traded at $21.29. Approximately 30,900,470 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 78,856,666 shares. The stock had previously closed at $20.59.

The chip maker reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.12. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The firm had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same period last year, the firm posted $0.18 EPS.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays reaffirmed a "reduce" rating on shares of Intel in a research note on Tuesday. UBS Group lowered their target price on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Friday. Roth Mkm cut their price target on shares of Intel from $25.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Hsbc Global Res raised Intel from a "moderate sell" rating to a "hold" rating in a report on Tuesday, January 21st. Finally, Mizuho decreased their target price on Intel from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday. Six investment analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Intel has an average rating of "Hold" and an average target price of $22.83.

Hedge Funds Weigh In On Intel

Large investors have recently made changes to their positions in the company. Relyea Zuckerberg Hanson LLC raised its stake in shares of Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker's stock worth $579,000 after buying an additional 19,625 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock valued at $113,244,000 after acquiring an additional 204,200 shares during the last quarter. Empirical Asset Management LLC bought a new stake in shares of Intel during the 4th quarter valued at $276,000. InvesTrust bought a new position in shares of Intel in the 4th quarter worth $3,696,000. Finally, Rheos Capital Works Inc. grew its stake in shares of Intel by 12.1% during the fourth quarter. Rheos Capital Works Inc. now owns 277,000 shares of the chip maker's stock worth $5,554,000 after purchasing an additional 30,000 shares during the period. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Stock Down 6.7 %

The business has a fifty day moving average of $21.92 and a 200 day moving average of $21.87. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The firm has a market cap of $87.43 billion, a P/E ratio of -4.58 and a beta of 1.13.

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.