Intel (NASDAQ:INTC) Trading Down 0.9% – What’s Next?

Intel Co. (NASDAQ:INTC)’s stock price dropped 0.9% on Wednesday . The stock traded as low as $19.90 and last traded at $19.97. Approximately 18,046,598 shares traded hands during trading, a decline of 71% from the average daily volume of 61,363,793 shares. The stock had previously closed at $20.16.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INTC. Rosenblatt Securities restated a “sell” rating and set a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. Bank of America reiterated an “underperform” rating and issued a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Stifel Nicolaus restated a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average target price of $30.04.

Intel Trading Down 2.1 %

The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $23.17 and its 200-day simple moving average is $25.30. The firm has a market capitalization of $87.73 billion, a PE ratio of -5.49 and a beta of 1.05.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period last year, the company posted $0.28 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. Equities analysts expect 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 Intel stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Intel

Large investors have recently made changes to their positions in the business. William B. Walkup & Associates Inc. purchased a new position in Intel in the second quarter worth about $2,178,000. Geode Capital Management LLC increased its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after buying an additional 31,800 shares during the last quarter. SGL Investment Advisors Inc. bought a new stake in shares of Intel during the 3rd quarter valued at $2,365,000. Finally, Benjamin Edwards Inc. increased its stake in shares of Intel by 35,983.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 32,836 shares of the chip maker’s stock worth $770,000 after purchasing an additional 32,745 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other 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.