Intel (NASDAQ:INTC) Shares Down 3.3% – What’s Next?

Intel Co. (NASDAQ:INTC) fell 3.3% on Tuesday . The company traded as low as $24.17 and last traded at $24.23. 14,511,476 shares were traded during mid-day trading, a decline of 76% from the average session volume of 59,923,945 shares. The stock had previously closed at $25.05.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INTC. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Truist Financial upped their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. cut their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald cut their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group cut their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Intel has a consensus rating of “Hold” and an average price target of $30.12.

Intel Stock Performance

The firm has a 50 day simple moving average of $22.47 and a 200-day simple moving average of $26.42. The company has a market cap of $107.95 billion, a price-to-earnings ratio of -6.81 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, analysts predict that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The stock was 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 trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INTC. William B. Walkup & Associates Inc. acquired a new stake in Intel in the second quarter valued at $2,178,000. Fortis Group Advisors LLC increased its position in shares of Intel by 1,052.9% during the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares in the last quarter. Mizuho Securities Co. Ltd. increased its position in shares of Intel by 2,910.4% during the third quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock worth $678,000 after purchasing an additional 27,940 shares in the last quarter. Private Advisory Group LLC acquired a new stake in shares of Intel during the third quarter worth about $8,045,000. Finally, Tyler Stone Wealth Management increased its position in shares of Intel by 105.4% during the third quarter. Tyler Stone Wealth Management now owns 41,276 shares of the chip maker’s stock worth $968,000 after purchasing an additional 21,177 shares in the last quarter. 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.