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

Intel Co. (NASDAQ:INTC) fell 1.4% 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 changed 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 analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INTC. HSBC raised Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Cantor Fitzgerald reissued a “neutral” rating and set a $22.00 price objective on shares of Intel in a research report on Friday. Rosenblatt Securities reaffirmed a “sell” rating and issued a $20.00 target price on shares of Intel in a report on Thursday. Northland Securities lowered their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. reduced their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.60.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s 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 sale, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intel

A number of institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in Intel by 264.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after buying an additional 14,227,458 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intel by 28.2% during the 3rd 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 worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Van ECK Associates Corp lifted its stake in shares of Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake 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. Finally, State Street Corp lifted its stake in shares of 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 during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Down 2.9 %

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

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.