Intel (NASDAQ:INTC) Stock Price Down 2.1% – Here’s What Happened

Intel Co. (NASDAQ:INTC) shares traded down 2.1% during trading on Tuesday . The stock traded as low as $24.11 and last traded at $24.33. 10,066,491 shares traded hands during trading, a decline of 83% from the average session volume of 59,837,789 shares. The stock had previously closed at $24.84.

Wall Street Analyst Weigh In

A number of research firms have issued reports on INTC. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Roth Mkm decreased their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Mizuho boosted their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, HSBC lowered Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Six research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.12.

Intel Trading Down 0.8 %

The business’s fifty day moving average is $23.00 and its 200 day moving average is $26.20. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. On average, equities analysts predict that Intel Co. will post -0.83 earnings per share for the current year.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INTC. Van ECK Associates Corp raised its stake in Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intel by 28.2% in 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 valued at $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in 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 in the last quarter. Davis Selected Advisers lifted its position in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after buying an additional 5,851,098 shares in the last quarter. Finally, State Street Corp grew its stake in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the period. Hedge funds and other 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.