Intel (NASDAQ:INTC) Trading Down 0.4% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s stock price dropped 0.4% during trading on Monday . The stock traded as low as $20.47 and last traded at $20.47. Approximately 22,160,798 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 37,722,320 shares. The stock had previously closed at $20.56.

Wall Street Analyst Weigh In

INTC has been the subject of a number of recent analyst reports. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Truist Financial lifted their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft cut 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 investment 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 MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm has a market capitalization of $85.74 billion, a P/E ratio of -5.34 and a beta of 1.07. The business has a fifty day moving average of $22.20 and a 200-day moving average of $23.89.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS 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 analyst estimates 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 last year, the business posted $0.28 earnings per share. On average, sell-side analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of 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 purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC grew its position in Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intel by 28.2% in the third 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. Finally, Van ECK Associates Corp increased its position in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after buying an additional 9,422,136 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.