Intel (NASDAQ:INTC) Shares Down 0.9% – Here’s Why

Intel Co. (NASDAQ:INTC)’s share price was down 0.9% during trading on Thursday . The stock traded as low as $19.40 and last traded at $19.54. Approximately 12,605,993 shares traded hands during trading, a decline of 76% from the average daily volume of 52,502,574 shares. The stock had previously closed at $19.72.

Wall Street Analysts Forecast Growth

INTC has been the subject of several recent research reports. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Northland Securities dropped their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Robert W. Baird raised their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Barclays reduced their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.88.

Intel Trading Up 9.3 %

The business’s 50 day moving average is $21.55 and its two-hundred day moving average is $23.38. The firm has a market capitalization of $92.69 billion, a P/E ratio of -5.78, a PEG ratio of 8.53 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.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s 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. Analysts expect that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $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.

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently modified their holdings of INTC. Finley Financial LLC acquired a new stake in shares of Intel in the 4th quarter valued at $25,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel in the second quarter worth about $27,000. Quest Partners LLC boosted its stake in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares in the last quarter. West Financial Advisors LLC acquired a new position in shares of Intel during the 4th quarter valued at about $31,000. Finally, Groupama Asset Managment raised its stake in shares of Intel by 6.3% in the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after acquiring an additional 8,084 shares in the last quarter. 64.53% of the stock is currently 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.