Intel (NASDAQ:INTC) Trading Down 0.4% – Here’s Why

Intel Co. (NASDAQ:INTC)’s share price dropped 0.4% during trading on Monday . The stock traded as low as $20.47 and last traded at $20.47. Approximately 22,160,798 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 37,722,320 shares. The stock had previously closed at $20.56.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Northland Securities dropped their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Robert W. Baird raised their price target on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.04.

Intel Trading Down 0.6 %

The business has a 50-day moving average of $22.20 and a 200-day moving average of $23.89. The stock has a market capitalization of $85.74 billion, a price-to-earnings ratio of -5.34 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the company posted $0.28 earnings per share. Intel’s revenue was down 6.3% compared to the same quarter last year. As a group, research analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Intel by 28.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after purchasing an additional 7,207,785 shares during the period. State Street Corp increased its position in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in Intel in the second quarter valued at approximately $162,592,000. 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.