Intel (NASDAQ:INTC) Trading Up 1.3% - Here's What Happened

Intel Co. (NASDAQ:INTC - Get Free Report) shares shot up 1.3% during trading on Wednesday . The stock traded as high as $21.50 and last traded at $21.55. 12,007,712 shares were traded during trading, a decline of 85% from the average session volume of 80,399,385 shares. The stock had previously closed at $21.27.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INTC. Cfra Research raised Intel to a "hold" rating in a report on Friday, April 25th. Rosenblatt Securities dropped their target price on Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a report on Friday, April 25th. Mizuho dropped their price objective on Intel from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of Intel in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, April 25th. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $21.57.

Intel Trading Down 2.4%

The firm has a market capitalization of $87.46 billion, a PE ratio of -4.58 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The firm has a fifty day moving average of $21.07 and a 200 day moving average of $21.60.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The company had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same period in the previous year, the business earned $0.18 EPS. Intel's revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts expect that Intel Co. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Intel

A number of institutional investors have recently made changes to their positions in INTC. Sound Income Strategies LLC lifted its holdings in shares of Intel by 20.5% in the fourth quarter. Sound Income Strategies LLC now owns 7,551 shares of the chip maker's stock valued at $151,000 after buying an additional 1,285 shares during the period. CX Institutional bought a new position in shares of Intel during the 4th quarter worth approximately $153,000. Exchange Traded Concepts LLC increased its stake in shares of Intel by 2.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 279,031 shares of the chip maker's stock valued at $5,595,000 after buying an additional 5,616 shares during the period. Atlas Private Wealth Advisors boosted its position in shares of Intel by 75.4% in the 4th quarter. Atlas Private Wealth Advisors now owns 16,569 shares of the chip maker's stock worth $332,000 after purchasing an additional 7,124 shares during the last quarter. Finally, Accel Wealth Management lifted its holdings in shares of Intel by 109.8% in the fourth quarter. Accel Wealth Management now owns 50,454 shares of the chip maker's stock valued at $1,012,000 after purchasing an additional 26,411 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

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.