Intel (NASDAQ:INTC) Stock Price Up 2.4% After Analyst Upgrade

Intel Corporation (NASDAQ:INTC - Get Free Report)'s stock price shot up 2.4% on Friday after Mizuho raised their price target on the stock from $22.00 to $23.00. Mizuho currently has a neutral rating on the stock. Intel traded as high as $22.63 and last traded at $22.41. 61,175,951 shares traded hands during trading, a decline of 29% from the average session volume of 86,210,114 shares. The stock had previously closed at $21.88.

Several other research analysts have also weighed in on the stock. Barclays restated a "reduce" rating on shares of Intel in a research report on Tuesday, April 22nd. UBS Group reduced their price objective on Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Bank of America raised Intel from an "underperform" rating to a "neutral" rating and upped their target price for the company from $19.00 to $25.00 in a report on Thursday, March 13th. Wedbush cut their price target on Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Finally, Rosenblatt Securities lowered their price objective on shares of Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Intel currently has a consensus rating of "Hold" and a consensus price target of $21.62.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INTC. Howard Financial Services LTD. increased its stake in Intel by 3.6% during the 2nd quarter. Howard Financial Services LTD. now owns 17,725 shares of the chip maker's stock worth $397,000 after buying an additional 616 shares during the period. Cacti Asset Management LLC increased its position in shares of Intel by 1.7% during the second quarter. Cacti Asset Management LLC now owns 146,649 shares of the chip maker's stock worth $3,327,000 after acquiring an additional 2,452 shares during the last quarter. Stonebridge Capital Management Inc. increased its position in shares of Intel by 3.2% during the second quarter. Stonebridge Capital Management Inc. now owns 151,981 shares of the chip maker's stock worth $3,404,000 after acquiring an additional 4,750 shares during the last quarter. Kera Capital Partners Inc. lifted its stake in shares of Intel by 14.6% in the second quarter. Kera Capital Partners Inc. now owns 300,877 shares of the chip maker's stock worth $6,740,000 after acquiring an additional 38,420 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs purchased a new position in Intel in the first quarter valued at about $3,662,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Trading Up 2.4%

The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The business has a 50 day simple moving average of $20.99 and a two-hundred day simple moving average of $21.17. The stock has a market cap of $97.73 billion, a price-to-earnings ratio of -5.00 and a beta of 1.15.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The business had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business's revenue was down .4% compared to the same quarter last year. As a group, equities analysts anticipate 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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