Intel (NASDAQ:INTC) Stock Price Down 1.6% – Here’s Why

Intel Co. (NASDAQ:INTC) shares traded down 1.6% during mid-day trading on Monday . The company traded as low as $22.39 and last traded at $22.40. 7,920,949 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 58,582,211 shares. The stock had previously closed at $22.77.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on INTC shares. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Wedbush cut their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Truist Financial decreased their price objective on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Roth Mkm cut their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.92.

Intel Stock Down 1.9 %

The stock has a market cap of $93.57 billion, a PE ratio of 23.17 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average of $21.51 and a 200 day moving average of $27.71.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s revenue was down .8% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. On average, equities research analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of INTC. Tributary Capital Management LLC purchased a new position in Intel in the 1st quarter valued at $27,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Intel during the first quarter worth about $36,000. America First Investment Advisors LLC purchased a new position in Intel during the second quarter worth about $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel in the second quarter valued at about $27,000. Finally, Spartan Fund Management Inc. acquired a new position in Intel during the 2nd quarter worth approximately $31,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.