Intel (NASDAQ:INTC) Shares Up 2%

Intel Co. (NASDAQ:INTC)’s stock price rose 2% during trading on Wednesday . The company traded as high as $35.18 and last traded at $34.95. Approximately 12,352,444 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 46,472,547 shares. The stock had previously closed at $34.28.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INTC. Bank of America dropped their target price on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Morgan Stanley increased their price target on shares of Intel from $39.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Wedbush reissued a “neutral” rating and set a $40.00 target price on shares of Intel in a research report on Wednesday, April 17th. Finally, HSBC reduced their price target on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.38.

Intel Stock Performance

The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The stock has a market cap of $145.87 billion, a price-to-earnings ratio of 89.62, a PEG ratio of 3.09 and a beta of 1.00. The stock’s 50 day moving average is $41.48 and its two-hundred day moving average is $42.36.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. During the same quarter last year, the company posted $0.10 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Analysts anticipate that Intel Co. will post 0.61 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s payout ratio is 128.21%.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Patrick P. Gelsinger acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Intel during the 4th quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after acquiring an additional 31,575,084 shares in the last quarter. California Public Employees Retirement System boosted its position in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the period. Bank of New York Mellon Corp raised its position in Intel by 18.6% in the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after purchasing an additional 6,064,950 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares in the last quarter. Institutional investors and hedge funds 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.