Intel (NASDAQ:INTC) Trading Down 0.1% – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) dropped 0.1% during mid-day trading on Wednesday . The stock traded as low as $19.71 and last traded at $19.98. Approximately 13,266,221 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 50,534,574 shares. The stock had previously closed at $20.01.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Northland Securities lowered their target price on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Mizuho increased their price objective on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.04.

Intel Trading Down 0.8 %

The company has a market cap of $85.61 billion, a price-to-earnings ratio of -5.34 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm has a fifty day moving average price of $22.20 and a 200 day moving average price of $23.89.

Intel (NASDAQ:INTC) last issued 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). The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. As a group, equities analysts predict that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on 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 approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently bought and sold shares of INTC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intel by 28.2% in 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 valued at $1,371,692,000 after buying an additional 12,865,308 shares during the period. Van ECK Associates Corp increased its stake in shares of 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 purchasing an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after buying an additional 7,207,785 shares in the last quarter. State Street Corp boosted its stake in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. Finally, Caxton Associates LP bought a new position in shares of Intel during the second quarter valued at $162,592,000. 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.