Intel (NASDAQ:INTC) Stock Price Down 1.3% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s stock price traded down 1.3% during trading on Tuesday . The company traded as low as $20.47 and last traded at $20.56. 11,439,854 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 61,489,098 shares. The stock had previously closed at $20.83.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INTC. The Goldman Sachs Group dropped their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Truist Financial lifted their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Bank of America reaffirmed an “underperform” rating and issued a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.04.

Intel Price Performance

The firm has a market cap of $82.21 billion, a P/E ratio of -5.12 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The firm’s 50 day moving average is $22.95 and its 200 day moving average is $24.97.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the business posted $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts anticipate that Intel Co. will post -0.87 earnings per share for the current year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Institutional investors have recently added to or reduced their stakes in the business. Independent Solutions Wealth Management LLC boosted its position in shares of Intel by 29.5% during the third quarter. Independent Solutions Wealth Management LLC now owns 18,895 shares of the chip maker’s stock valued at $443,000 after buying an additional 4,304 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares during the period. Retirement Systems of Alabama increased its position in shares of Intel by 0.8% during the 3rd quarter. Retirement Systems of Alabama now owns 946,906 shares of the chip maker’s stock valued at $22,214,000 after purchasing an additional 7,857 shares during the last quarter. Denver PWM LLC raised its position in Intel by 752.1% in the third quarter. Denver PWM LLC now owns 26,425 shares of the chip maker’s stock worth $620,000 after acquiring an additional 23,324 shares during the period. Finally, World Investment Advisors LLC raised its holdings in Intel by 59.6% in the 3rd quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker’s stock worth $1,009,000 after purchasing an additional 16,046 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.