Intel (NASDAQ:INTC) Trading Up 6.4% on Analyst Upgrade

Intel Corporation (NASDAQ:INTC - Get Free Report)'s stock price was up 6.4% during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $21.00 to $24.00. Citigroup currently has a neutral rating on the stock. Intel traded as high as $23.33 and last traded at $23.42. Approximately 39,569,914 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 86,182,003 shares. The stock had previously closed at $22.00.

Other analysts have also recently issued reports about the company. Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, April 25th. UBS Group decreased their target price on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Rosenblatt Securities reduced their price target on Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Finally, Wedbush dropped their price target on Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Five equities research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.76.

Institutional Investors Weigh In On Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. boosted its position in shares of Intel by 121.8% during the 4th quarter. Assetmark Inc. now owns 5,286 shares of the chip maker's stock worth $106,000 after purchasing an additional 2,903 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Intel in the 4th quarter valued at about $1,789,000. Raymond James Financial Inc. bought a new position in shares of Intel during the 4th quarter valued at approximately $53,465,000. Callan Family Office LLC bought a new position in shares of Intel during the 4th quarter valued at approximately $279,000. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Intel by 16.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 184,802 shares of the chip maker's stock valued at $4,089,000 after acquiring an additional 25,838 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Up 6.4%

The stock's 50-day moving average price is $21.07 and its two-hundred day moving average price is $21.23. The stock has a market capitalization of $102.12 billion, a P/E ratio of -5.23 and a beta of 1.15. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, beating the consensus estimate of $0.01 by $0.12. The firm had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The business's quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. As a group, research analysts expect that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

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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