Intel (NASDAQ:INTC) Trading Down 1.6% – What’s Next?

Intel Co. (NASDAQ:INTC)’s share price fell 1.6% during mid-day trading on Monday . The company traded as low as $22.39 and last traded at $22.40. 7,920,949 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 58,582,211 shares. The stock had previously closed at $22.77.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of recent analyst reports. Susquehanna dropped their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Barclays decreased their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Morgan Stanley cut their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Roth Mkm decreased their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.92.

Intel Trading Down 0.8 %

The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a market cap of $96.17 billion, a price-to-earnings ratio of 23.33 and a beta of 1.03. The business has a fifty day simple moving average of $21.40 and a 200 day simple moving average of $27.94.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Intel

Several institutional investors and hedge funds have recently made changes to their positions in INTC. Mechanics Bank Trust Department lifted its holdings in Intel by 0.8% in the 1st quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock valued at $1,702,000 after purchasing an additional 320 shares in the last quarter. Guardian Capital Advisors LP lifted its stake in shares of Intel by 2.1% during the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after buying an additional 328 shares during the period. Valley National Advisers Inc. boosted its position in Intel by 5.5% during the first quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock worth $278,000 after acquiring an additional 330 shares during the last quarter. Richard C. Young & CO. LTD. grew its stake in Intel by 0.9% in the 1st quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock worth $1,656,000 after acquiring an additional 338 shares during the period. Finally, Key Financial Inc lifted its stake in shares of Intel by 4.1% during the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after purchasing an additional 340 shares during the period. 64.53% of the stock is currently owned by hedge funds and other 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.