Intel (NASDAQ:INTC) Shares Up 7%


Share on StockTwits

Intel Co. (NASDAQ:INTC)’s share price shot up 7% during mid-day trading on Wednesday . The company traded as high as $60.25 and last traded at $56.95. 123,949,672 shares traded hands during trading, an increase of 167% from the average session volume of 46,407,848 shares. The stock had previously closed at $53.24.

A number of research firms recently issued reports on INTC. The Goldman Sachs Group boosted their target price on shares of Intel from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, December 14th. Zacks Investment Research upgraded shares of Intel from a “sell” rating to a “hold” rating and set a $49.00 target price on the stock in a research report on Tuesday, December 22nd. BidaskClub lowered shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, December 22nd. JPMorgan Chase & Co. restated a “buy” rating and set a $70.00 price target on shares of Intel in a research note on Wednesday. Finally, Bank of America lowered shares of Intel to a “sell” rating and set a $45.00 price target for the company. in a research note on Tuesday, December 15th. Eleven research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have issued a buy rating to the stock. Intel has an average rating of “Hold” and an average target price of $58.22.

The company has a market cap of $233.38 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 1.36 and a beta of 0.74. The company’s 50-day moving average is $49.47 and its two-hundred day moving average is $50.52. The company has a quick ratio of 1.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.48.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 22nd. The chip maker reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.01. The company had revenue of $18.33 billion during the quarter, compared to analyst estimates of $18.26 billion. Intel had a net margin of 28.10% and a return on equity of 29.44%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 earnings per share. On average, analysts anticipate that Intel Co. will post 4.89 EPS for the current fiscal year.

In other Intel news, CEO Robert Holmes Swan acquired 8,021 shares of the company’s stock in a transaction on Wednesday, October 28th. The shares were acquired at an average cost of $44.96 per share, with a total value of $360,624.16. Following the completion of the acquisition, the chief executive officer now directly owns 309,844 shares in the company, valued at $13,930,586.24. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kevin Thomas Mcbride sold 589 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $44.96, for a total transaction of $26,481.44. Following the sale, the vice president now directly owns 14,486 shares in the company, valued at $651,290.56. The disclosure for this sale can be found here. 0.04% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Baron Financial Group LLC purchased a new stake in shares of Intel in the third quarter worth about $34,000. Holloway Wealth Management LLC bought a new position in Intel during the third quarter valued at approximately $41,000. Grace Capital bought a new position in Intel during the third quarter valued at approximately $53,000. NuWave Investment Management LLC grew its position in Intel by 400.0% during the fourth quarter. NuWave Investment Management LLC now owns 1,205 shares of the chip maker’s stock valued at $60,000 after acquiring an additional 964 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc grew its position in Intel by 45.6% during the third quarter. Guinness Atkinson Asset Management Inc now owns 1,420 shares of the chip maker’s stock valued at $74,000 after acquiring an additional 445 shares during the last quarter. 60.73% of the stock is currently owned by hedge funds and other institutional investors.

Intel Company Profile (NASDAQ:INTC)

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

Further Reading: How much can an individual set aside as a catch-up contribution?

Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.