Intel (NASDAQ:INTC) Shares Up 6.8% - Here's What Happened

Intel Co. (NASDAQ:INTC - Get Free Report) shares rose 6.8% during trading on Wednesday . The stock traded as high as $21.03 and last traded at $20.84. Approximately 41,784,749 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 78,712,122 shares. The stock had previously closed at $19.51.

Analysts Set New Price Targets

INTC has been the topic of a number of analyst reports. Citigroup reissued a "sell" rating on shares of Intel in a report on Friday. Susquehanna dropped their price objective on Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Bank of America raised Intel from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $19.00 to $25.00 in a report on Thursday, March 13th. Cantor Fitzgerald lowered their price target on shares of Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Benchmark restated a "hold" rating on shares of Intel in a research report on Friday. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Intel has an average rating of "Hold" and a consensus price target of $22.23.

Intel Trading Down 6.7 %

The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock's fifty day moving average price is $21.92 and its two-hundred day moving average price is $21.86. The stock has a market capitalization of $87.43 billion, a P/E ratio of -4.58 and a beta of 1.13.

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

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock worth $7,400,439,000 after buying an additional 6,143,164 shares during the period. Geode Capital Management LLC raised its stake in shares of Intel by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after acquiring an additional 2,978,346 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Intel by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock worth $1,268,430,000 after purchasing an additional 4,793,927 shares during the period. Norges Bank purchased a new position in Intel during the 4th quarter valued at about $1,246,569,000. Finally, Northern Trust Corp raised its position in Intel by 15.5% during the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock valued at $918,522,000 after purchasing an additional 6,157,853 shares during the last quarter. Institutional investors 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.