Intel (NASDAQ:INTC) Trading Down 2.6% – Should You Sell?

Intel Co. (NASDAQ:INTC)’s share price dropped 2.6% during trading on Wednesday . The stock traded as low as $21.74 and last traded at $22.08. Approximately 27,648,588 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 58,805,777 shares. The stock had previously closed at $22.66.

Analyst Ratings Changes

A number of analysts have recently commented on INTC shares. Roth Mkm dropped their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Northland Securities dropped their price objective on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Truist Financial dropped their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price of $31.96.

Intel Price Performance

The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm has a market cap of $95.06 billion, a price-to-earnings ratio of 23.00 and a beta of 1.03. The stock has a 50-day moving average of $21.24 and a two-hundred day moving average of $28.37.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter last year, the company posted ($0.05) EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. William B. Walkup & Associates Inc. acquired a new position in Intel in the second quarter worth approximately $2,178,000. Private Advisory Group LLC bought a new stake in Intel in the third quarter worth approximately $8,045,000. Brookstone Capital Management raised its holdings in shares of Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares in the last quarter. Sanibel Captiva Trust Company Inc. lifted its stake in shares of Intel by 21.1% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares during the last quarter. Finally, Czech National Bank lifted its stake in shares of Intel by 7.2% in the 3rd quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock valued at $20,392,000 after purchasing an additional 58,021 shares during the last quarter. Hedge funds and other institutional investors 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.