Intel (NASDAQ:INTC) Shares Down 1.4% on Disappointing Earnings

Intel Co. (NASDAQ:INTC) traded down 1.4% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $19.44 and last traded at $19.47. 22,253,170 shares changed hands during trading, a decline of 67% from the average session volume of 66,674,023 shares. The stock had previously closed at $19.75.

The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Rosenblatt Securities restated a “sell” rating and issued a $20.00 price target on shares of Intel in a research report on Thursday. Truist Financial lowered their price objective on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday. Cantor Fitzgerald restated a “neutral” rating and set a $22.00 price objective on shares of Intel in a research report on Friday. Barclays lowered their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, UBS Group cut their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Five research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $26.60.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC grew its stake in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares in the last quarter. Finley Financial LLC acquired a new position in shares of Intel in the 4th quarter worth approximately $25,000. Keystone Financial Group Inc. bought a new stake in shares of Intel in the 4th quarter valued at approximately $29,000. FSA Wealth Management LLC acquired a new stake in shares of Intel during the 3rd quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP acquired a new position in Intel in the third quarter worth $36,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Trading Down 2.9 %

The stock has a market cap of $83.80 billion, a price-to-earnings ratio of -5.22, a P/E/G ratio of 9.64 and a beta of 1.07. The business’s fifty day simple moving average is $20.78 and its 200 day simple moving average is $22.51. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

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.