Intel (NASDAQ:INTC) Trading 15% Higher – Still a Buy?

Intel Co. (NASDAQ:INTC)’s stock price rose 15% during trading on Thursday . The stock traded as high as $24.53 and last traded at $23.79. Approximately 129,260,778 shares traded hands during trading, an increase of 30% from the average daily volume of 99,782,109 shares. The stock had previously closed at $20.68.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INTC. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Truist Financial reduced their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. HSBC raised Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lowered their price target on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $27.04.

Intel Stock Up 13.9 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The stock has a market cap of $102.01 billion, a price-to-earnings ratio of -5.37 and a beta of 1.02. The business’s 50 day moving average is $21.31 and its 200 day moving average is $21.80.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. Equities analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Intel

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC increased its stake in shares of Intel by 211.6% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after acquiring an additional 19,625 shares during the last quarter. Principal Financial Group Inc. boosted its position in Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares during the last quarter. Empirical Asset Management LLC purchased a new position in Intel in the fourth quarter valued at about $276,000. Finally, Swiss National Bank increased its position in Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after purchasing an additional 31,800 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Company Profile

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.