Intel (NASDAQ:INTC) Stock Price Down 0.1% – Here’s What Happened

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INTC. The Goldman Sachs Group dropped their price target 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 dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Stifel Nicolaus restated a “hold” rating and set a $25.00 target price (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Finally, Truist Financial raised their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Six equities research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $30.04.

Intel Trading Down 0.8 %

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 has a fifty day simple moving average of $22.20 and a two-hundred day simple moving average of $23.89. The firm has a market capitalization of $85.61 billion, a P/E ratio of -5.34 and a beta of 1.07.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate 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 was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. On average, equities research analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s 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 sale, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Dunhill Financial LLC grew its holdings in shares of Intel by 22.6% during the third quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after purchasing an additional 438 shares in the last quarter. MKT Advisors LLC increased its position in shares of Intel by 4.8% during the 3rd quarter. MKT Advisors LLC now owns 10,762 shares of the chip maker’s stock valued at $241,000 after purchasing an additional 490 shares during the last quarter. Beaton Management Co. Inc. raised its holdings in shares of Intel by 2.2% during the 3rd quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock valued at $544,000 after buying an additional 500 shares in the last quarter. Everpar Advisors LLC lifted its position in Intel by 5.1% in the 3rd quarter. Everpar Advisors LLC now owns 10,326 shares of the chip maker’s stock worth $242,000 after buying an additional 504 shares during the last quarter. Finally, Lavaca Capital LLC grew its holdings in shares of Intel by 4.7% during the 2nd quarter. Lavaca Capital LLC now owns 11,796 shares of the chip maker’s stock valued at $365,000 after purchasing an additional 530 shares during the last quarter. 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.