Intel (NASDAQ:INTC) Trading Down 4.4% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price dropped 4.4% during mid-day trading on Tuesday . The stock traded as low as $22.78 and last traded at $22.88. Approximately 42,540,303 shares were traded during trading, a decline of 29% from the average daily volume of 60,258,199 shares. The stock had previously closed at $23.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Northland Securities reduced their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Stifel Nicolaus reissued a “hold” rating and set a $25.00 target price (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Finally, StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Trading Down 5.7 %

The firm’s 50-day simple moving average is $23.50 and its 200 day simple moving average is $25.80. The firm has a market cap of $97.30 billion, a P/E ratio of -6.08 and a beta of 1.05. 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) EPS for the quarter, missing the consensus estimate 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 net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS. As a group, analysts expect that Intel Co. will post -0.87 earnings per share 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 value of $650,000.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intel

Large investors have recently modified their holdings of the company. Key Financial Inc grew its position in shares of Intel by 4.1% during the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after purchasing an additional 340 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in shares of Intel by 1.4% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock valued at $767,000 after acquiring an additional 348 shares in the last quarter. Cidel Asset Management Inc. boosted its position in shares of Intel by 0.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock valued at $2,000,000 after acquiring an additional 381 shares during the last quarter. Alhambra Investment Management LLC boosted its position in shares of Intel by 5.9% during the 2nd quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock valued at $217,000 after acquiring an additional 389 shares during the last quarter. Finally, Cambridge Advisors Inc. grew its holdings in shares of Intel by 2.4% during the second quarter. Cambridge Advisors Inc. now owns 17,025 shares of the chip maker’s stock worth $527,000 after purchasing an additional 393 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

About Intel

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.