Intel (NASDAQ:INTC) Stock Price Down 1.7% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price was down 1.7% on Wednesday . The stock traded as low as $21.97 and last traded at $22.08. Approximately 26,476,936 shares traded hands during trading, a decline of 56% from the average daily volume of 60,531,848 shares. The stock had previously closed at $22.47.

Wall Street Analyst Weigh In

Several analysts have issued reports on INTC shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Northland Securities cut their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Finally, StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $30.04.

Intel Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a 50 day moving average of $23.40 and a 200 day moving average of $25.67. The stock has a market capitalization of $90.36 billion, a P/E ratio of -5.59 and a beta of 1.05.

Intel (NASDAQ:INTC) last announced 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the firm posted $0.28 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. Equities analysts predict that Intel Co. will post -0.87 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of INTC. America First Investment Advisors LLC purchased a new stake in Intel in the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel in the second quarter valued at approximately $27,000. Quest Partners LLC raised its holdings in Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares in the last quarter. Spartan Fund Management Inc. acquired a new position in shares of Intel during the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel in the 2nd quarter valued at approximately $32,000. 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.