Intel (NASDAQ:INTC) Trading Down 0.5% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s stock price fell 0.5% during trading on Thursday . The company traded as low as $22.98 and last traded at $23.35. 10,713,112 shares were traded during trading, a decline of 82% from the average session volume of 58,960,645 shares. The stock had previously closed at $23.46.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INTC. Cantor Fitzgerald dropped their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Daiwa America raised Intel to a “hold” rating in a research report on Monday, August 26th. The Goldman Sachs Group reduced their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley cut their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Truist Financial decreased their price target on shares of Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.96.

Intel Price Performance

The stock has a market capitalization of $100.74 billion, a PE ratio of 102.44 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock’s 50-day moving average is $21.12 and its 200 day moving average is $28.87.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the previous year, the business posted ($0.05) EPS. The business’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 -0.47 earnings per share for the current year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is currently 217.40%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. America First Investment Advisors LLC acquired a new stake in shares of Intel in the 2nd quarter worth $25,000. Tributary Capital Management LLC acquired a new stake in Intel in the first quarter valued at about $27,000. Cyrus J. Lawrence LLC purchased a new stake in Intel in the 2nd quarter valued at approximately $27,000. Spartan Fund Management Inc. purchased a new stake in Intel in the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Intel during the 2nd quarter worth approximately $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.