Intel (NASDAQ:INTC) Shares Down 2.3% – Should You Sell?

Intel Co. (NASDAQ:INTC) shares were down 2.3% on Friday . The stock traded as low as $20.87 and last traded at $21.07. Approximately 21,834,080 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 63,873,793 shares. The stock had previously closed at $21.57.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on INTC shares. The Goldman Sachs Group cut their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Bank of America restated an “underperform” rating and issued a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Robert W. Baird upped their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Citigroup dropped their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $28.81.

Intel Stock Down 3.1 %

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 firm’s 50 day simple moving average is $21.30 and its two-hundred day simple moving average is $23.11. The firm has a market cap of $90.13 billion, a price-to-earnings ratio of -5.61, a PEG ratio of 9.72 and a beta of 1.07.

Intel (NASDAQ:INTC) last issued 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). The business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. On average, equities analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Hedge funds and other institutional investors have recently made changes to their positions in the stock. William B. Walkup & Associates Inc. bought a new stake in shares of Intel during the 2nd quarter valued at approximately $2,178,000. Geode Capital Management LLC grew its holdings in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC grew its holdings in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after acquiring an additional 19,625 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after acquiring an additional 204,200 shares during the last quarter. Finally, Empirical Asset Management LLC bought a new stake in Intel during the 4th quarter worth approximately $276,000. 64.53% of the stock is owned by institutional investors.

Intel Company Profile

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.