Intel (NASDAQ:INTC) Stock Price Down 1.7% – What’s Next?

Intel Co. (NASDAQ:INTC) dropped 1.7% during trading on Thursday . The company traded as low as $23.06 and last traded at $23.65. Approximately 53,858,621 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 60,066,496 shares. The stock had previously closed at $24.05.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research analyst reports. Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Mizuho increased their price objective on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald cut their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.12.

Intel Stock Performance

The firm has a market cap of $102.00 billion, a PE ratio of -6.36 and a beta of 1.03. The business has a 50 day simple moving average of $23.38 and a two-hundred day simple moving average of $25.99. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 EPS. As a group, equities research analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated 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. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

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

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.