Intel (NASDAQ:INTC) Shares Down 0.7% – Here’s What Happened

Intel Co. (NASDAQ:INTC) fell 0.7% during mid-day trading on Tuesday . The stock traded as low as $19.03 and last traded at $19.06. 12,876,700 shares were traded during mid-day trading, a decline of 76% from the average session volume of 52,631,926 shares. The stock had previously closed at $19.20.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. 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 research note on Friday, November 1st. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.96.

Intel Stock Down 1.3 %

The firm has a fifty day simple moving average of $21.97 and a 200 day simple moving average of $23.58. 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 cap of $81.73 billion, a PE ratio of -5.09 and a beta of 1.07.

Intel (NASDAQ:INTC) last posted 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company 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 earned $0.28 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts predict that Intel Co. will post -0.87 EPS for the current year.

Insider Transactions at Intel

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INTC. William B. Walkup & Associates Inc. acquired a new position in Intel during the 2nd quarter worth approximately $2,178,000. Geode Capital Management LLC boosted its stake in shares of Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Intel by 4.4% in the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares during the period. Swiss National Bank grew its holdings in Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares in the last quarter. Finally, InvesTrust acquired a new position in Intel in the 4th quarter worth $3,696,000. Institutional investors and hedge funds 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.