Intel (NASDAQ:INTC) Shares Down 1.8% – Here’s Why

Intel Co. (NASDAQ:INTC) shares dropped 1.8% on Friday . The company traded as low as $20.30 and last traded at $20.41. Approximately 14,738,431 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 61,474,824 shares. The stock had previously closed at $20.78.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on INTC shares. Bank of America reissued an “underperform” rating and issued a $21.00 price target on shares of Intel in a research note on Tuesday, December 3rd. Northland Securities decreased their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. The Goldman Sachs Group reduced their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, 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. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.04.

Intel Trading Down 2.1 %

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’s 50-day moving average is $23.17 and its 200 day moving average is $25.30. The company has a market cap of $87.77 billion, a price-to-earnings ratio of -5.49 and a beta of 1.05.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts predict that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intel

Several hedge funds and other institutional investors have recently made changes to their positions in the business. America First Investment Advisors LLC purchased a new stake in shares of Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the second quarter valued at $27,000. Quest Partners LLC grew its holdings in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of Intel during the second quarter worth about $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Intel in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.