Intel (NASDAQ:INTC) Sets New 52-Week High at $40.20

Intel Co. (NASDAQ:INTC)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $40.20 and last traded at $39.97, with a volume of 5256660 shares changing hands. The stock had previously closed at $39.41.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Intel from $28.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, July 28th. TD Cowen increased their target price on shares of Intel from $31.00 to $38.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. Morgan Stanley boosted their price target on shares of Intel from $35.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. UBS Group raised their price objective on Intel from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Intel from $32.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $35.09.

Intel Price Performance

The stock has a market cap of $169.15 billion, a price-to-earnings ratio of -98.52, a price-to-earnings-growth ratio of 14.24 and a beta of 0.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.13 and a current ratio of 1.53. The company has a 50-day simple moving average of $36.42 and a two-hundred day simple moving average of $34.11.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 26th. The chip maker reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.20. Intel had a negative net margin of 3.11% and a positive return on equity of 0.49%. The business had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $13.57 billion. During the same period last year, the business earned $0.59 earnings per share. The firm’s revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts forecast that Intel Co. will post 0.19 EPS for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Monday, November 6th. Intel’s payout ratio is currently -125.00%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 6,775 shares of Intel stock in a transaction dated Wednesday, November 1st. The stock was bought at an average cost of $36.80 per share, for a total transaction of $249,320.00. Following the purchase, the chief executive officer now owns 25,475 shares of the company’s stock, valued at approximately $937,480. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Hedge funds have recently modified their holdings of the stock. State Street Corp grew its position in shares of Intel by 1.2% in the second quarter. State Street Corp now owns 181,557,033 shares of the chip maker’s stock valued at $6,071,267,000 after purchasing an additional 2,237,616 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Intel by 98,521.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 178,121,843 shares of the chip maker’s stock valued at $5,956,394,000 after buying an additional 177,941,231 shares in the last quarter. Geode Capital Management LLC grew its holdings in Intel by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 84,895,947 shares of the chip maker’s stock valued at $2,831,569,000 after buying an additional 2,166,976 shares in the last quarter. Capital Research Global Investors increased its position in Intel by 38.6% during the 2nd quarter. Capital Research Global Investors now owns 74,806,869 shares of the chip maker’s stock worth $2,501,537,000 after buying an additional 20,836,219 shares during the period. Finally, Primecap Management Co. CA lifted its holdings in shares of Intel by 6.0% during the third quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock worth $2,657,799,000 after buying an additional 4,226,790 shares in the last quarter. Institutional investors and hedge funds own 60.84% of the company’s stock.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.