Intel (NASDAQ:INTC) Shares Up 6% - Here's Why

Key Points

• Intel's stock price rose 6% during mid-day trading, reaching a high of $21.09 after closing at $19.95, although overall trading volume decreased by 36% from its average.
• Wall Street analysts have mixed opinions, with six analysts giving a sell rating and a total of twenty-three holding the stock; the current consensus rating is "Hold" with an average price target of $22.17.
• Intel reported a quarterly revenue of $12.86 billion, beating analysts' expectations, but missed earnings per share estimates, posting a loss of ($0.10).

Intel Corporation (NASDAQ:INTC - Get Free Report)'s share price was up 6% during mid-day trading on Monday . The company traded as high as $21.09 and last traded at $21.15. Approximately 59,718,912 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 93,260,727 shares. The stock had previously closed at $19.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on INTC shares. Wedbush reduced their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a "hold" rating on shares of Intel in a research note on Friday, July 25th. Morgan Stanley reduced their price target on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus boosted their price target on shares of Intel from $21.00 to $24.50 and gave the company a "hold" rating in a research note on Monday, July 21st. Finally, Susquehanna reduced their price target on shares of Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Six investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $22.17.

Intel Stock Up 7.4%

The company has a current ratio of 1.24, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. The company has a market cap of $104.44 billion, a price-to-earnings ratio of -5.00 and a beta of 1.22. The firm's fifty day simple moving average is $21.72 and its 200 day simple moving average is $21.51.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $12.86 billion for the quarter, compared to analyst estimates of $11.88 billion. During the same quarter last year, the firm earned $0.02 EPS. The company's revenue was up .5% on a year-over-year basis. Sell-side analysts predict that Intel Corporation will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. HFM Investment Advisors LLC acquired a new position in shares of Intel in the 1st quarter valued at $25,000. N.E.W. Advisory Services LLC acquired a new stake in Intel during the 1st quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Intel during the 1st quarter worth $27,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new stake in Intel during the 2nd quarter worth $28,000. Finally, West Branch Capital LLC acquired a new stake in Intel during the 2nd quarter worth $28,000. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Company Profile

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.