Intel (NASDAQ:INTC) Shares Down 4.4% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s share price traded down 4.4% on Tuesday . The stock traded as low as $22.78 and last traded at $22.88. 42,540,303 shares traded hands during trading, a decline of 29% from the average session volume of 60,258,199 shares. The stock had previously closed at $23.93.

Analyst Ratings Changes

Several research analysts recently issued reports on INTC shares. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Bank of America restated an “underperform” rating and issued a $21.00 target price on shares of Intel in a research report on Tuesday. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Finally, Truist Financial boosted their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.04.

Intel Stock Down 5.7 %

The stock has a market capitalization of $97.30 billion, a PE ratio of -6.08 and a beta of 1.05. The stock’s 50-day moving average price is $23.50 and its two-hundred day moving average price is $25.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last announced its 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). 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%. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. As a group, analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’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 completion of the transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intel by 28.2% in the 3rd 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 during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after acquiring an additional 7,207,785 shares during the period. Davis Selected Advisers increased its position in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Finally, State Street Corp lifted 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 valued at $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. 64.53% of the stock is currently 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.