Intel (NASDAQ:INTC) Trading Down 1.3% – Here’s Why

Intel Co. (NASDAQ:INTC)’s share price fell 1.3% during mid-day trading on Tuesday . The stock traded as low as $20.47 and last traded at $20.56. 11,439,854 shares changed hands during trading, a decline of 81% from the average session volume of 61,489,098 shares. The stock had previously closed at $20.83.

Analysts Set New Price Targets

Several brokerages have issued reports on INTC. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Daiwa America upgraded shares of Intel to a “hold” rating in a report on Monday, August 26th. Mizuho increased their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Bank of America reiterated an “underperform” rating and set a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Finally, Robert W. Baird increased their target price on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Six investment 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.04.

Intel Stock Down 2.3 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The company has a market capitalization of $87.77 billion, a price-to-earnings ratio of -5.53 and a beta of 1.05. The business’s 50 day moving average is $23.09 and its 200 day moving average is $25.09.

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

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intel

Several institutional investors have recently made changes to their positions in the company. Key Financial Inc raised its holdings in Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after buying an additional 340 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in 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 buying an additional 348 shares during the period. Dunhill Financial LLC raised its holdings in Intel by 22.6% in the 3rd quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock valued at $56,000 after buying an additional 438 shares during the period. Azzad Asset Management Inc. ADV raised its holdings in Intel by 1.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 34,491 shares of the chip maker’s stock valued at $1,068,000 after buying an additional 478 shares during the period. Finally, MKT Advisors LLC raised its holdings in Intel by 4.8% in the 3rd quarter. MKT Advisors LLC now owns 10,762 shares of the chip maker’s stock valued at $241,000 after buying an additional 490 shares during the period. 64.53% of the stock is owned by hedge funds and other 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.