Intel (NASDAQ:INTC) Shares Down 4.3% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price fell 4.3% during mid-day trading on Friday . The company traded as low as $18.97 and last traded at $19.02. 28,138,425 shares were traded during trading, a decline of 46% from the average session volume of 51,767,906 shares. The stock had previously closed at $19.88.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped their price target on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Truist Financial increased their price objective 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. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. 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 company’s stock. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average price target of $30.04.

Intel Trading Down 3.7 %

The firm has a 50 day moving average price of $22.12 and a two-hundred day moving average price of $23.83. 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 company has a market cap of $82.55 billion, a price-to-earnings ratio of -5.15 and a beta of 1.07.

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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Large investors have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares during the period. Geode Capital Management LLC boosted its holdings 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 grew its stake in Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intel by 28.2% during 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 valued at $1,371,692,000 after acquiring an additional 12,865,308 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing 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.