Intel (NASDAQ:INTC) Shares Down 0.6% – Here’s Why

Intel Co. (NASDAQ:INTC) shares dropped 0.6% during mid-day trading on Thursday . The company traded as low as $19.71 and last traded at $19.88. Approximately 47,783,496 shares traded hands during trading, a decline of 17% from the average daily volume of 57,634,414 shares. The stock had previously closed at $20.01.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Northland Securities lowered their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Bank of America reaffirmed an “underperform” rating and issued a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Truist Financial lifted their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Robert W. Baird upped their price objective on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, 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 report on Thursday, October 3rd. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.96.

Intel Price Performance

The firm has a market cap of $82.59 billion, a P/E ratio of -5.15 and a beta of 1.07. 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 business’s 50 day moving average is $22.03 and its two-hundred day moving average is $23.75.

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

Insider Buying and Selling at Intel

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

Institutional Investors Weigh In On Intel

Institutional investors and hedge funds have recently bought and sold shares of the stock. William B. Walkup & Associates Inc. bought a new position in shares of Intel during the second quarter valued at about $2,178,000. Geode Capital Management LLC raised its position in Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares during the period. Principal Financial Group Inc. lifted its stake in Intel by 4.4% in the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares during the last quarter. Swiss National Bank grew its stake in shares of Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after acquiring an additional 31,800 shares during the period. Finally, SGL Investment Advisors Inc. bought a new stake in Intel in the 3rd quarter valued at about $2,365,000. 64.53% of the stock is owned by hedge funds and other 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.