Intel (NASDAQ:INTC) Trading Down 0.9% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s share price traded down 0.9% during mid-day trading on Thursday . The stock traded as low as $19.40 and last traded at $19.54. 12,605,993 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 52,502,574 shares. The stock had previously closed at $19.72.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INTC. Northland Securities reduced their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Bank of America reissued an “underperform” rating and set a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. The Goldman Sachs Group reduced their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Six investment 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. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $29.96.

Intel Price Performance

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 fifty day moving average is $21.89 and its 200 day moving average is $23.49. The firm has a market cap of $85.42 billion, a price-to-earnings ratio of -5.33, a PEG ratio of 8.53 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 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 during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the previous year, the business earned $0.28 EPS. Intel’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts predict that Intel Co. will post -0.87 EPS for the current year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.

Institutional Trading of Intel

A number of hedge funds have recently made changes to their positions in the business. Cyrus J. Lawrence LLC acquired a new stake in Intel during the 2nd quarter valued at $27,000. Quest Partners LLC boosted its holdings in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the period. West Financial Advisors LLC bought a new stake in shares of Intel during the 4th quarter worth about $31,000. Groupama Asset Managment grew its stake in Intel by 6.3% in the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after buying an additional 8,084 shares during the last quarter. Finally, Sawyer & Company Inc bought a new position in Intel in the 4th quarter valued at about $32,000. 64.53% of the stock is owned by institutional investors and hedge funds.

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.