Intel (NASDAQ:INTC) Shares Down 2.4% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s share price was down 2.4% on Tuesday . The company traded as low as $20.20 and last traded at $20.31. Approximately 20,681,783 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 61,250,016 shares. The stock had previously closed at $20.81.

Analysts Set New Price Targets

A number of research analysts recently weighed in on INTC shares. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.04.

Intel Trading Down 3.0 %

The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $87.08 billion, a price-to-earnings ratio of -5.46 and a beta of 1.05. The firm has a 50-day moving average of $23.29 and a 200 day moving average of $25.44.

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 firm 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 for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. As a group, equities analysts predict that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling 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 stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intel

Large investors have recently modified their holdings of the stock. America First Investment Advisors LLC bought a new stake in shares of Intel during the 2nd quarter worth $25,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel during the 2nd quarter worth $27,000. Spartan Fund Management Inc. purchased a new stake in shares of Intel in the second quarter valued at $31,000. Financial Connections Group Inc. purchased a new stake in shares of Intel in the second quarter valued at $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Intel in the second quarter valued at $33,000. 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.