Intel (NASDAQ:INTC) Trading Down 2.8% – What’s Next?

Intel Co. (NASDAQ:INTC)’s stock price dropped 2.8% during trading on Friday . The stock traded as low as $24.28 and last traded at $24.32. Approximately 10,299,435 shares traded 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

Several equities analysts recently issued reports on the company. Truist Financial upped their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Barclays dropped their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Finally, Mizuho increased their price objective 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. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Price Performance

The stock’s 50 day moving average is $22.69 and its two-hundred day moving average is $26.36. 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 stock has a market capitalization of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03.

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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. On average, equities analysts anticipate that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Large investors have recently added to or reduced their stakes in the stock. America First Investment Advisors LLC purchased a new position in Intel during the second quarter worth about $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the 2nd quarter valued at approximately $27,000. Spartan Fund Management Inc. acquired a new position in Intel in the second quarter valued at approximately $31,000. Financial Connections Group Inc. purchased a new position in Intel in the second quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in Intel in the second quarter valued at $33,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.