Intel (NASDAQ:INTC) Shares Down 2.8% – Here’s What Happened

Intel Co. (NASDAQ:INTC) was down 2.8% during trading on Friday . The stock traded as low as $24.28 and last traded at $24.32. Approximately 10,299,435 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 59,860,930 shares. The stock had previously closed at $25.03.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTC. Robert W. Baird upped their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Roth Mkm dropped their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Mizuho increased their target price on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Barclays reduced their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Six investment 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 company’s stock. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus price target of $30.12.

Intel Stock Performance

The company’s fifty day simple moving average is $22.58 and its 200 day simple moving average is $26.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The firm has a market capitalization of $105.54 billion, a PE ratio of -6.54 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its 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 firm had revenue of $13.30 billion during 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%. The firm’s 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, equities research analysts expect that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were 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 directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INTC. Polymer Capital Management HK LTD bought a new position in shares of Intel in the 3rd quarter worth about $352,000. Maple Rock Capital Partners Inc. bought a new stake in shares of Intel in the 3rd quarter worth approximately $5,267,000. Melqart Asset Management UK Ltd bought a new position in Intel during the 3rd quarter valued at approximately $14,021,000. Morse Asset Management Inc bought a new stake in Intel in the third quarter worth $354,000. Finally, IHT Wealth Management LLC grew its stake in shares of Intel by 12.1% in the third quarter. IHT Wealth Management LLC now owns 189,839 shares of the chip maker’s stock worth $4,403,000 after acquiring an additional 20,453 shares during the last quarter. 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.