Intel (NASDAQ:INTC) Shares Up 2.1% - Still a Buy?

Intel Co. (NASDAQ:INTC - Get Free Report)'s stock price shot up 2.1% on Tuesday . The company traded as high as $22.88 and last traded at $22.65. 28,378,803 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 99,402,516 shares. The stock had previously closed at $22.18.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial dropped their price target on shares of Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a report on Friday, January 31st. HSBC raised shares of Intel from a "reduce" rating to a "hold" rating in a report on Tuesday, January 21st. Benchmark reiterated a "hold" rating on shares of Intel in a research note on Friday, April 25th. Sanford C. Bernstein lowered their price objective on shares of Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Barclays restated a "reduce" rating on shares of Intel in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Intel currently has an average rating of "Hold" and an average target price of $21.67.

Intel Trading Down 0.4%

The stock's 50 day moving average is $21.33 and its two-hundred day moving average is $21.70. The company has a market capitalization of $93.46 billion, a PE ratio of -4.89 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

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

Institutional Trading of Intel

Several hedge funds have recently modified their holdings of INTC. Cornerstone Advisory LLC increased its holdings in shares of Intel by 4.3% during the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock valued at $198,000 after acquiring an additional 409 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Intel by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock valued at $840,000 after buying an additional 419 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Intel by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock valued at $3,263,000 after buying an additional 456 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Intel by 1.1% during the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock valued at $1,037,000 after buying an additional 486 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its position in shares of Intel by 23.1% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker's stock valued at $59,000 after buying an additional 491 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.