Intel (NASDAQ:INTC) Shares Down 2.8% – Here’s Why

Intel Co. (NASDAQ:INTC) shares dropped 2.8% on Friday . The stock traded as low as $24.28 and last traded at $24.32. Approximately 10,299,435 shares changed hands during trading, a decline of 83% from the average daily volume of 59,860,930 shares. The stock had previously closed at $25.03.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on INTC shares. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Daiwa America raised shares of Intel to a “hold” rating in a research report on Monday, August 26th. Wedbush dropped their price target on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Barclays reduced their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.12.

Intel Stock Performance

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 market cap of $105.54 billion, a price-to-earnings ratio of -6.54 and a beta of 1.03. The firm has a fifty day simple moving average of $22.58 and a two-hundred day simple moving average of $26.41.

Intel (NASDAQ:INTC) last released its earnings results 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). The company had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. On average, analysts expect that Intel Co. will post -0.83 EPS for the current year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was 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 owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Guardian Capital Advisors LP grew its position in Intel by 2.1% during the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after buying an additional 328 shares during the period. 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 worth $269,000 after purchasing an additional 340 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in Intel by 1.4% during the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after purchasing an additional 348 shares in the last quarter. Cypress Asset Management Inc. TX grew its holdings in Intel by 1.6% in the first quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock valued at $1,015,000 after purchasing an additional 350 shares during the period. Finally, Cidel Asset Management Inc. raised its stake 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 worth $2,000,000 after buying an additional 381 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

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.