Intel (NASDAQ:INTC) Shares Down 1.4% on Disappointing Earnings

Intel Co. (NASDAQ:INTC)’s stock price traded down 1.4% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $19.44 and last traded at $19.47. 22,253,170 shares traded hands during trading, a decline of 67% from the average session volume of 66,674,023 shares. The stock had previously closed at $19.75.

The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Friday. Roth Mkm decreased their price objective on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday. Bank of America reissued an “underperform” rating and issued a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday. Finally, Mizuho reduced their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Intel has an average rating of “Hold” and an average target price of $26.60.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Intel by 4.6% during 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 buying an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC boosted its position in shares of Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after buying an additional 19,625 shares during the period. Principal Financial Group Inc. boosted its position in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after buying an additional 204,200 shares during the period. Empirical Asset Management LLC purchased a new position in shares of Intel during the fourth quarter worth $276,000. Finally, Swiss National Bank raised its stake in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after acquiring an additional 31,800 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

The firm has a market capitalization of $83.80 billion, a price-to-earnings ratio of -5.22, a PEG ratio of 9.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The firm has a 50 day moving average price of $20.78 and a 200-day moving average price of $22.51.

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.