Intel (NASDAQ:INTC) Trading Up 4% - Here's Why

Key Points

• Intel shares increased by 4% on Tuesday, reaching a peak of $21.21 before closing at $21.47, despite a significant drop in trading volume compared to the average.
• The company received multiple rating changes from analysts, with six sell ratings, twenty-three holds, and one buy, resulting in a consensus rating of "Hold" and a target price of $22.17.
• Intel reported a loss of $0.10 per share in its recent earnings, missing estimates, although it achieved revenue of $12.86 billion, surpassing analyst expectations.

Shares of Intel Corporation (NASDAQ:INTC - Get Free Report) shot up 4% on Tuesday . The stock traded as high as $21.21 and last traded at $21.47. 38,764,668 shares were traded during mid-day trading, a decline of 59% from the average session volume of 93,725,219 shares. The stock had previously closed at $20.65.

Analyst Ratings Changes

INTC has been the topic of several research reports. Wall Street Zen lowered shares of Intel from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Rosenblatt Securities reissued a "sell" rating and issued a $14.00 price objective on shares of Intel in a report on Friday, July 25th. Loop Capital began coverage on shares of Intel in a research note on Monday, July 21st. They issued a "hold" rating and a $25.00 target price for the company. UBS Group upped their price target on shares of Intel from $21.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, Benchmark reiterated a "hold" rating on shares of Intel in a research note on Friday, July 25th. Six research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $22.17.

Intel Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.24. The stock's fifty day moving average price is $21.58 and its 200-day moving average price is $21.48. The firm has a market cap of $94.87 billion, a PE ratio of -4.55 and a beta of 1.22.

Intel (NASDAQ:INTC - Get Free Report) last released its earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share (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 company had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.88 billion. During the same period in the prior year, the business posted $0.02 earnings per share. Intel's revenue was up .5% on a year-over-year basis. As a group, equities analysts forecast that Intel Corporation will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Intel

Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Advisory LLC grew its holdings in Intel by 4.3% in the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after buying an additional 409 shares in the last quarter. Evergreen Capital Management LLC increased its stake in Intel by 1.0% in 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 during the period. Verdence Capital Advisors LLC increased its holdings in Intel by 1.1% in the first quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock worth $1,037,000 after buying an additional 486 shares during the last quarter. Independent Wealth Network Inc. raised its holdings in Intel by 5.2% during the second quarter. Independent Wealth Network Inc. now owns 9,927 shares of the chip maker's stock valued at $222,000 after buying an additional 490 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Intel by 23.1% in 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 during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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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