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

Intel logo with Computer and Technology background

Intel Corporation (NASDAQ:INTC - Get Free Report) shares traded up 2.4% during mid-day trading on Thursday 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 $22.57 and last traded at $22.42. 29,462,837 shares were traded during trading, a decline of 69% from the average session volume of 95,250,297 shares. The stock had previously closed at $21.88.

Several other research analysts have also recently commented on INTC. Susquehanna decreased their target price on shares of Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. UBS Group dropped their price target on shares of Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Seaport Res Ptn raised Intel to a "strong sell" rating in a report on Wednesday, April 30th. Wedbush cut their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Six research 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 stock. According to data from MarketBeat, Intel presently has an average rating of "Hold" and a consensus target price of $21.62.

Check Out Our Latest Stock Analysis on INTC

Hedge Funds Weigh In On Intel

A number of hedge funds have recently modified their holdings of the stock. Proficio Capital Partners LLC acquired a new position in Intel in the 4th quarter worth about $1,789,000. Jones Financial Companies Lllp grew its stake in shares of Intel by 10.6% in the 4th quarter. Jones Financial Companies Lllp now owns 168,904 shares of the chip maker's stock valued at $3,387,000 after buying an additional 16,232 shares in the last quarter. Synergy Investment Management LLC bought a new stake in shares of Intel in the 4th quarter valued at approximately $27,000. Assetmark Inc. increased its holdings in Intel by 121.8% in the fourth quarter. Assetmark Inc. now owns 5,286 shares of the chip maker's stock worth $106,000 after buying an additional 2,903 shares during the last quarter. Finally, SPC Financial Inc. lifted its stake in Intel by 12.6% in the fourth quarter. SPC Financial Inc. now owns 12,308 shares of the chip maker's stock valued at $247,000 after acquiring an additional 1,379 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

The company's 50-day simple moving average is $20.99 and its 200 day simple moving average is $21.17. The company has a market capitalization of $97.73 billion, a P/E ratio of -5.00 and a beta of 1.15. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Intel (NASDAQ:INTC - Get Free Report) last posted its earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same period in the prior year, the business posted $0.18 earnings per share. The business's quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts expect that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

About Intel

(Get Free Report)

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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