Intel Corporation (NASDAQ: INTC) experienced a significant boost in its stock value, rising by 11% during mid-day trading on January 26, 2024. This increase followed the purchase of additional shares by David Zinsner, the company’s Executive Vice President. The stock reached a peak of $49.29 before settling at $48.78, marking a notable rise from its previous close of $43.93. Trading volume surged to approximately 200.2 million shares, up 34% from the average daily volume of 149 million shares.
Zinsner’s acquisition of 5,882 shares at an average price of $42.50 per share amounted to a total transaction of $249,985. Following this purchase, Zinsner now holds 247,392 shares in Intel, valued at around $10.5 million. This transaction represents a 2.44% increase in his ownership stake, a detail disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).
Analysts Adjust Price Targets
Intel’s stock has attracted considerable attention from analysts recently. Citic Securities upgraded its rating from “hold” to “buy,” increasing the target price from $38.90 to $60.30. Similarly, Tigress Financial reaffirmed a “buy” rating with a target of $66.00. Other firms such as Stifel Nicolaus and HSBC Global Research have also made adjustments, with Stifel raising its price objective from $35.00 to $42.00 and HSBC upgrading from a “moderate sell” to a “hold” rating.
Currently, five analysts have rated Intel as a “buy,” while twenty-six maintain a “hold” rating, and six recommend selling. The consensus rating stands at “reduce” with an average target price of $45.65, according to data from MarketBeat.
Key Financial Metrics and Recent Performance
Intel boasts a market capitalization of $243.66 billion and a price-to-earnings (P/E) ratio of -609.67. The company reported a revenue of $13.67 billion for the last quarter, exceeding the consensus estimate of $13.37 billion. Despite this positive surprise, the revenue reflects a 4.2% year-over-year decline. Intel’s earnings per share (EPS) were $0.15, surpassing the consensus estimate of $0.08.
As the company looks ahead, it has set a guidance for Q1 2026 at $0.000-0.000 EPS. Analysts anticipate that Intel will post an EPS of -0.11 for the current fiscal year.
Recent trading activity has also seen various institutional investors adjusting their stakes in Intel. For instance, Focus Financial Network Inc. raised its position by 2.1%, now holding 10,788 shares. Similarly, Successful Portfolios LLC and Orca Investment Management LLC increased their holdings by 2.6% and 0.5%, respectively. Overall, institutional investors own 64.53% of Intel’s stock.
Founded in 1968 by Robert Noyce and Gordon E. Moore, Intel is headquartered in Santa Clara, California. The company is renowned for its development of semiconductor products and its pioneering role in introducing the first commercial microprocessor. Intel continues to play a critical role in the design and manufacturing of processors and related components used across various computing applications.
