Intel (NASDAQ:INTC) Trading Down 2.5%

Intel Co. (NASDAQ:INTC)’s share price was down 2.5% on Wednesday . The stock traded as low as $32.11 and last traded at $32.14. Approximately 11,518,622 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 47,655,027 shares. The stock had previously closed at $32.95.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Morgan Stanley decreased their target price on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Susquehanna dropped their price target on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, Truist Financial dropped their target price on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.25.

Intel Stock Performance

The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The stock has a market cap of $132.39 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 18.97 and a beta of 1.05. The stock’s 50 day moving average is $31.64 and its two-hundred day moving average is $37.62.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a return on equity of 2.19% and a net margin of 7.36%. The business had revenue of $12.72 billion for the quarter, compared to analyst estimates of $12.76 billion. Analysts anticipate that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was acquired at an average cost of $31.42 per share, with a total value of $125,680.00. Following the purchase, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 4,000 shares of the stock in a transaction dated Monday, April 29th. The shares were acquired at an average cost of $31.42 per share, with a total value of $125,680.00. Following the purchase, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INTC. Norges Bank purchased a new stake in shares of Intel during the 4th quarter valued at $2,424,202,000. Price T Rowe Associates Inc. MD increased its stake in Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after acquiring an additional 31,575,084 shares during the last quarter. Capital International Investors raised its holdings in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. California Public Employees Retirement System grew its holdings in shares of Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Intel by 44.8% in the first quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after buying an additional 6,673,086 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.