Intel (NASDAQ:INTC) Trading 6.1% Higher

Intel Co. (NASDAQ:INTC) was up 6.1% during mid-day trading on Tuesday . The stock traded as high as $22.35 and last traded at $22.18. Approximately 81,222,812 shares changed hands during mid-day trading, an increase of 47% from the average daily volume of 55,123,078 shares. The stock had previously closed at $20.91.

Wall Street Analyst Weigh In

Several equities analysts have commented on INTC shares. Truist Financial cut their price objective on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. UBS Group decreased their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Benchmark lowered Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.04.

Intel Stock Performance

The company has a market cap of $90.97 billion, a price-to-earnings ratio of 23.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The firm’s 50-day moving average price is $24.71 and its 200 day moving average price is $31.45.

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

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.34%. Intel’s dividend payout ratio is currently 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Intel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares in the last quarter. Capital International Investors lifted its holdings in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the period. Primecap Management Co. CA lifted its holdings in Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after buying an additional 1,697,550 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after buying an additional 487,191 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.