Intel (NASDAQ:INTC) Stock Price Down 0.2% – Here’s What Happened

Shares of Intel Co. (NASDAQ:INTC) fell 0.2% during mid-day trading on Thursday . The company traded as low as $19.19 and last traded at $19.27. 18,958,273 shares traded hands during trading, a decline of 69% from the average session volume of 61,576,234 shares. The stock had previously closed at $19.30.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of recent research reports. Mizuho lifted their target price on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 target price on shares of Intel in a research note on Tuesday, October 29th. Northland Securities decreased their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Daiwa America raised shares of Intel to a “hold” rating in a research note on Monday, August 26th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.04.

Intel Price Performance

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 stock has a 50-day moving average price of $22.78 and a 200 day moving average price of $24.86. The stock has a market capitalization of $84.19 billion, a price-to-earnings ratio of -5.25 and a beta of 1.05.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS 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 business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts expect that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

A number of hedge funds have recently modified their holdings of INTC. Independent Solutions Wealth Management LLC lifted its stake in Intel by 29.5% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 18,895 shares of the chip maker’s stock worth $443,000 after purchasing an additional 4,304 shares in the last quarter. Principal Financial Group Inc. increased its stake in Intel by 4.4% during the third 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. Retirement Systems of Alabama increased its position in shares of Intel by 0.8% during the 3rd quarter. Retirement Systems of Alabama now owns 946,906 shares of the chip maker’s stock worth $22,214,000 after purchasing an additional 7,857 shares during the last quarter. Denver PWM LLC lifted its position in Intel by 752.1% in the third quarter. Denver PWM LLC now owns 26,425 shares of the chip maker’s stock valued at $620,000 after buying an additional 23,324 shares during the last quarter. Finally, World Investment Advisors LLC boosted its stake in Intel by 59.6% during the third quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker’s stock worth $1,009,000 after buying an additional 16,046 shares during the period. 64.53% of the stock is currently 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.