Intel (NASDAQ:INTC) Shares Down 1.8% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price fell 1.8% on Thursday . The stock traded as low as $21.35 and last traded at $21.47. 13,464,894 shares were traded during mid-day trading, a decline of 79% from the average session volume of 63,790,090 shares. The stock had previously closed at $21.86.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INTC. HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday. Mizuho cut their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Robert W. Baird lifted their target price on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. The Goldman Sachs Group dropped their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Finally, Barclays dropped their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.81.

Intel Price Performance

The business has a fifty day moving average of $21.37 and a 200-day moving average of $23.12. The firm has a market cap of $92.58 billion, a PE ratio of -5.76, a PEG ratio of 9.59 and a beta of 1.07. 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 issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. As a group, research analysts predict that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction 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 directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intel

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC increased its position in Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intel by 28.2% in the third 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 buying an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp increased its position in Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after buying an additional 9,422,136 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

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.