Intel (NASDAQ:INTC) Trading Down 0.3% – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) fell 0.3% during mid-day trading on Wednesday . The stock traded as low as $20.30 and last traded at $20.37. 9,449,265 shares were traded during trading, a decline of 85% from the average session volume of 61,445,328 shares. The stock had previously closed at $20.44.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus restated a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Bank of America reaffirmed an “underperform” rating and set a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Six 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.04.

Intel Stock Down 1.1 %

The stock’s fifty day simple moving average is $23.03 and its 200-day simple moving average is $25.01. The stock has a market cap of $87.17 billion, a P/E ratio of -5.43 and a beta of 1.05. 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 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 company had revenue of $13.30 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. As a group, research analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. America First Investment Advisors LLC acquired a new position in Intel in the 2nd quarter worth about $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel in the second quarter valued at approximately $27,000. Spartan Fund Management Inc. bought a new position in Intel in the 2nd quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new position in Intel in the 2nd quarter valued at approximately $32,000. Finally, Fairfield Financial Advisors LTD bought a new stake in Intel during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.