Intel (NASDAQ:INTC) Trading 3.4% Higher - Here's What Happened

Intel Co. (NASDAQ:INTC) experienced a 3.4% increase in its stock price on Friday. The shares reached a peak of $24.44 before closing the day at $23.88. During mid-day trading, around 38,983,799 shares were exchanged, which is a significant drop of 59% compared to its average daily volume of 95,050,742 shares. The stock had previously closed at $23.09.

Analyst Upgrades and Downgrades

A number of financial analysts have recently reviewed Intel's stock. On January 31, Truist Financial reduced their price target for Intel from $22.00 to $21.00, while maintaining a 'hold' rating. On the same day, JPMorgan Chase & Co. lowered their target from $26.00 to $23.00, also rating it as 'underweight.' Meanwhile, Rosenblatt Securities reiterated a 'sell' rating with a target price of $20.00. Northland Securities changed their price target from $42.00 to $28.00, issuing an 'outperform' rating. Finally, Robert W. Baird raised their target from $20.00 to $25.00, giving it a 'neutral' rating. Overall, five analysts rate the stock as a sell, twenty-seven as a hold, and one as a buy, leading to an average rating of 'Hold' and an average target price of $26.88.

Intel Trading Overview

Intel has a current market capitalization of $102.80 billion, with a price-to-earnings ratio of -5.42 and a beta of 1.08. Its fifty-day moving average stands at $21.12, while the two-hundred-day moving average is $21.75. The company has a current ratio of 1.33 and a quick ratio of 0.98, alongside a debt-to-equity ratio of 0.44.

The company's latest earnings report was released on January 30, where Intel reported earnings per share (EPS) of -$0.02, which was below the consensus estimate of $0.12 by -$0.14. Additionally, the company registered a negative return on equity of 3.27% and a negative net margin of 35.32%. Analysts predict that Intel is likely to post -$0.11 EPS for the current fiscal year.

Institutional Investments

Several institutional investors and hedge funds have made recent changes to their Intel holdings. Norges Bank acquired a new stake, valued at approximately $1.25 billion, in the fourth quarter. Two Sigma Advisers LP also took a new position valued at $289.75 million during the same period. Assenagon Asset Management S.A. increased their stake by 264.0%, now owning 19,617,088 shares valued at $393.32 million. Furthermore, UBS Asset Management increased its holdings by 28.2%, now owning 58,469,412 shares worth approximately $1.37 billion. About 64.53% of Intel's stock is currently held by institutional investors and hedge funds.

Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing products and services globally. The company operates through various segments, including the Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. Its product portfolio includes central processing units (CPUs), chipsets, system-on-chips (SoCs), desktop processors, graphics processing units (GPUs), and other semiconductor products.

Conclusion

As Intel continues to navigate its market presence, potential investors may want to consider the current analytical recommendations before making any investment decisions.

Intel, Stock, Analysis