Intel (NASDAQ:INTC) Shares Up 1.1% Following Analyst Upgrade

Key Points

• Intel's shares rose by 1.1% after JPMorgan Chase upgraded its price target from $20.00 to $21.00, despite maintaining an underweight rating.
• In the latest trades, Intel reported a revenue of $12.86 billion for the quarter, exceeding estimates, but posted a loss of ($0.10) earnings per share, falling short of expectations.
• Institutional ownership of Intel stands at 64.53%, with notable increases in positions from several hedge funds and investment firms during the fourth quarter.

Intel Corporation (NASDAQ:INTC - Get Free Report)'s stock price shot up 1.1% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $20.00 to $21.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Intel traded as high as $21.29 and last traded at $20.93. 39,550,165 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 93,572,281 shares. The stock had previously closed at $20.70.

INTC has been the topic of a number of other reports. Citigroup reiterated a "hold" rating on shares of Intel in a research note on Tuesday, July 8th. Seaport Res Ptn raised shares of Intel to a "strong sell" rating in a report on Wednesday, April 30th. Susquehanna reduced their price target on shares of Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Cfra Research raised shares of Intel to a "hold" rating in a report on Friday, April 25th. Finally, Wedbush reduced their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Six analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Intel presently has an average rating of "Hold" and a consensus price target of $22.30.

Institutional Trading of Intel

Institutional investors and hedge funds have recently made changes to their positions in the company. Freestone Grove Partners LP purchased a new stake in shares of Intel in the fourth quarter valued at about $62,654,000. Toronto Dominion Bank grew its position in Intel by 286.8% during the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock valued at $211,114,000 after buying an additional 7,806,882 shares during the period. 180 Wealth Advisors LLC grew its position in Intel by 124.9% during the first quarter. 180 Wealth Advisors LLC now owns 127,916 shares of the chip maker's stock valued at $2,905,000 after buying an additional 71,049 shares during the period. Alteri Wealth LLC bought a new position in Intel during the fourth quarter valued at about $2,379,000. Finally, Gordian Capital Singapore Pte Ltd grew its position in Intel by 120.7% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 64,000 shares of the chip maker's stock valued at $1,282,000 after buying an additional 35,000 shares during the period. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Stock Performance

The company has a market cap of $91.49 billion, a P/E ratio of -4.39 and a beta of 1.15. The company's 50-day moving average is $21.64 and its two-hundred day moving average is $21.51. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42.

Intel (NASDAQ:INTC - Get Free Report) last issued its earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The business had revenue of $12.86 billion for the quarter, compared to the consensus estimate of $11.88 billion. During the same quarter in the prior year, the business earned $0.02 EPS. Intel's revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts predict that Intel Corporation will post -0.11 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.

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