Intel (NASDAQ:INTC) Shares Down 6.1%

Intel Co. (NASDAQ:INTC)’s share price was down 6.1% on Tuesday . The stock traded as low as $20.68 and last traded at $20.69. Approximately 30,608,332 shares were traded during trading, a decline of 43% from the average daily volume of 53,489,680 shares. The stock had previously closed at $22.04.

Analysts Set New Price Targets

INTC has been the subject of several recent analyst reports. Morgan Stanley cut their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald reduced their target price on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Finally, Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.04.

Intel Price Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company has a market cap of $82.59 billion, a price-to-earnings ratio of 20.49 and a beta of 1.05. The business has a fifty day moving average price of $26.64 and a 200 day moving average price of $32.85.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period in the previous year, the firm posted ($0.05) EPS. The firm’s revenue was down .8% compared to the same quarter last year. As a group, research analysts anticipate that Intel Co. will post -0.46 earnings per share for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Intel in the 4th quarter valued at about $2,424,202,000. Price T Rowe Associates Inc. MD lifted its stake in Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares during the period. Capital International Investors grew its position in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the period. Van ECK Associates Corp grew its position in shares of Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after buying an additional 13,035,566 shares during the period. Finally, Davis Selected Advisers increased its stake in shares of Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after acquiring an additional 5,851,098 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

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.