Intel (NASDAQ:INTC) Stock Price Up 6.4% After Analyst Upgrade

Intel Corporation (NASDAQ:INTC)’s share price traded up 6.4% on Tuesday after Citigroup raised their price target on the stock from $21.00 to $24.00. Citigroup currently has a neutral rating on the stock. Intel traded as high as $23.33 and last traded at $23.42. 39,569,914 shares were traded during trading, a decline of 54% from the average session volume of 86,182,003 shares. The stock had previously closed at $22.00.

Several other analysts also recently weighed in on INTC. Wall Street Zen upgraded Intel from a “sell” rating to a “hold” rating in a research note on Saturday, May 24th. Morgan Stanley dropped their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, April 25th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, April 25th. Finally, Cantor Fitzgerald decreased their price objective on Intel from $29.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Five analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Intel has an average rating of “Hold” and a consensus price target of $21.76.

Hedge Funds Weigh In On Intel

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Intel by 2.2% during the first quarter. Vanguard Group Inc. now owns 377,390,437 shares of the chip maker’s stock worth $8,570,537,000 after purchasing an additional 8,291,233 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Intel by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock worth $1,909,761,000 after purchasing an additional 2,978,346 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intel by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock worth $1,268,430,000 after purchasing an additional 4,793,927 shares during the last quarter. Norges Bank purchased a new position in shares of Intel during the fourth quarter worth about $1,246,569,000. Finally, Northern Trust Corp grew its holdings in shares of Intel by 0.3% during the first quarter. Northern Trust Corp now owns 45,969,843 shares of the chip maker’s stock worth $1,043,975,000 after buying an additional 158,288 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average of $21.20 and a 200-day moving average of $21.26. The stock has a market cap of $102.25 billion, a PE ratio of -5.23 and a beta of 1.15.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The firm had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. During the same quarter last year, the company posted $0.18 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, equities analysts forecast that Intel Corporation will post -0.11 EPS for the current year.

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.