Intel (NASDAQ:INTC) Trading Down 0.4% – Time to Sell?

Shares of Intel Co. (NASDAQ:INTC) were down 0.4% during mid-day trading on Monday . The company traded as low as $20.47 and last traded at $20.47. Approximately 22,160,798 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 37,722,320 shares. The stock had previously closed at $20.56.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INTC. Northland Securities cut their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Robert W. Baird raised their price target on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. 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. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Finally, Bank of America restated an “underperform” rating and issued a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $30.04.

Intel Stock Down 3.0 %

The company has a 50-day moving average of $22.32 and a 200-day moving average of $24.04. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $86.04 billion, a price-to-earnings ratio of -5.36 and a beta of 1.07.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the company earned $0.28 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of 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 purchasing an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Finally, Van ECK Associates Corp grew its position in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares during the last quarter. Hedge funds and other institutional investors 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.