Intel Co. (NASDAQ: INTC) saw a 1% increase in its stock price on Friday, reaching as high as $31.20 before closing at $30.92. The trading volume was lower than the average daily volume. Several analysts recently revised their price targets for Intel, with some lowering them due to various factors affecting the company’s performance. Overall, the consensus rating for Intel is “Hold” with an average price target of $39.58.
In terms of financials, Intel reported quarterly earnings that fell short of analysts’ expectations, with a net loss per share. The company’s revenue for the quarter was also slightly below estimates. Despite this, Intel is expected to post positive earnings per share for the current year. Additionally, Intel recently paid out a quarterly dividend to shareholders.
CEO Patrick Gelsinger made several notable stock purchases in the past months, showing confidence in the company’s future performance. Institutional investors have also been active in buying and selling Intel stock, with some increasing their stakes while others reducing them.
Intel Corporation operates in various segments, including Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. The company designs, develops, manufactures, and sells a wide range of computing and related products and services globally.
In conclusion, despite facing challenges in its financial performance, Intel continues to attract interest from investors and analysts. The company’s CEO showing confidence through stock purchases and institutional investors increasing their stakes indicate a belief in Intel’s potential for future growth and success. Intel’s diverse product portfolio and global reach position it as a key player in the technology industry.
Article Source
https://www.marketbeat.com/instant-alerts/nasdaq-intc-percent-advance-2024-06-21/