Intel (NASDAQ:INTC) Stock Price Down 1.7% – Time to Sell?

Intel Co. (NASDAQ:INTC)’s share price dropped 1.7% during mid-day trading on Thursday . The company traded as low as $23.06 and last traded at $23.65. Approximately 53,858,621 shares changed hands during trading, a decline of 10% from the average daily volume of 60,066,496 shares. The stock had previously closed at $24.05.

Analyst Ratings Changes

Several research analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. UBS Group lowered their target price on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.12.

Intel Stock Down 1.7 %

The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $102.00 billion, a PE ratio of -6.36 and a beta of 1.03. The company’s fifty day moving average is $23.38 and its 200-day moving average is $25.99.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business earned $0.28 earnings per share. On average, analysts predict that Intel Co. will post -0.87 EPS for the current year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its stake in Intel by 14.9% during the 1st quarter. Janus Henderson Group PLC now owns 473,056 shares of the chip maker’s stock worth $20,889,000 after acquiring an additional 61,516 shares during the period. Austin Wealth Management LLC purchased a new stake in shares of Intel in the first quarter worth $290,000. Redwood Grove Capital LLC raised its position in shares of Intel by 6.0% during the 1st quarter. Redwood Grove Capital LLC now owns 203,325 shares of the chip maker’s stock valued at $8,981,000 after purchasing an additional 11,500 shares during the period. Cetera Investment Advisers lifted its stake in shares of Intel by 262.9% during the 1st quarter. Cetera Investment Advisers now owns 787,130 shares of the chip maker’s stock valued at $34,768,000 after buying an additional 570,249 shares in the last quarter. Finally, Cetera Advisors LLC boosted its holdings in Intel by 27.9% in the 1st quarter. Cetera Advisors LLC now owns 279,997 shares of the chip maker’s stock worth $12,367,000 after buying an additional 61,049 shares during the period. 64.53% of the stock is owned by institutional investors.

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.