Intel (NASDAQ:INTC) Trading Down 3.5%

Intel Co. (NASDAQ:INTC)’s share price was down 3.5% during trading on Friday . The stock traded as low as $18.70 and last traded at $18.72. Approximately 30,041,016 shares were traded during trading, a decline of 44% from the average daily volume of 54,066,613 shares. The stock had previously closed at $19.40.

Analyst Upgrades and Downgrades

INTC has been the subject of several analyst reports. Northland Securities reduced their price objective on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Wedbush reduced their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reduced their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.04.

Intel Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The company’s 50 day simple moving average is $26.41 and its two-hundred day simple moving average is $32.76. The stock has a market capitalization of $79.86 billion, a P/E ratio of 19.50 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the company earned ($0.05) earnings per share. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts expect that Intel Co. will post -0.46 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.67%. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Intel

Several large investors have recently bought and sold shares of the business. Johnson Financial Group Inc. lifted its holdings in Intel by 4.5% in the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after buying an additional 247 shares during the period. Enterprise Financial Services Corp raised its holdings in Intel by 2.2% in the fourth quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock worth $576,000 after purchasing an additional 251 shares during the period. Summit Financial Strategies Inc. raised its holdings in Intel by 3.7% in the fourth quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock worth $371,000 after purchasing an additional 265 shares during the period. Cape Investment Advisory Inc. raised its holdings in Intel by 5.5% in the fourth quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock worth $261,000 after purchasing an additional 270 shares during the period. Finally, Copperwynd Financial LLC raised its holdings in Intel by 0.6% in the fourth quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock worth $2,283,000 after purchasing an additional 273 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.