Intel (NASDAQ:INTC) Shares Gap Up on Analyst Upgrade

by · The Cerbat Gem

Shares of Intel Co. (NASDAQ:INTC – Get Free Report) gapped up prior to trading on Friday after Robert W. Baird raised their price target on the stock from $20.00 to $25.00. The stock had previously closed at $21.52, but opened at $23.00. Robert W. Baird currently has a neutral rating on the stock. Intel shares last traded at $22.75, with a volume of 31,136,098 shares traded.

A number of other research analysts have also weighed in on INTC. Wedbush cut their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Susquehanna decreased their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Finally, Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $30.58.

Read Our Latest Stock Report on Intel

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Intel

A number of institutional investors have recently bought and sold shares of INTC. America First Investment Advisors LLC acquired a new stake in shares of Intel in the second quarter worth $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel during the 2nd quarter worth about $27,000. Spartan Fund Management Inc. purchased a new position in shares of Intel during the 2nd quarter valued at about $31,000. Financial Connections Group Inc. acquired a new position in shares of Intel in the 2nd quarter valued at about $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Intel in the second quarter worth about $33,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

The firm has a fifty day moving average of $21.74 and a 200 day moving average of $27.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The stock has a market capitalization of $97.24 billion, a price-to-earnings ratio of 99.87 and a beta of 1.03.

Intel (NASDAQ:INTC – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period in the previous year, the business earned ($0.05) EPS. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Company Profile

(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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