Intel (NASDAQ:INTC) Trading Down 1.8% – What’s Next?

Intel Co. (NASDAQ:INTC)’s share price fell 1.8% during mid-day trading on Tuesday . The company traded as low as $22.38 and last traded at $22.44. 9,107,910 shares traded hands during trading, a decline of 84% from the average session volume of 58,491,707 shares. The stock had previously closed at $22.84.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INTC. JPMorgan Chase & Co. cut their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Truist Financial cut their price target on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Benchmark restated a “hold” rating on shares of Intel in a research note on Monday, September 23rd. Finally, Morgan Stanley cut their price target 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. Six 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 company’s stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and an average target price of $31.92.

Intel Price Performance

The stock has a fifty day moving average of $21.47 and a two-hundred day moving average of $27.82. The stock has a market cap of $95.06 billion, a price-to-earnings ratio of 23.38 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the company earned ($0.05) EPS. The company’s revenue was down .8% on a year-over-year basis. On average, equities research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.24%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price 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 in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William B. Walkup & Associates Inc. purchased a new stake in shares of Intel during the 2nd quarter valued at about $2,178,000. Private Advisory Group LLC acquired a new position in shares of Intel in the 3rd quarter valued at approximately $8,045,000. Brookstone Capital Management grew its position in shares of Intel by 65.2% during the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after buying an additional 27,274 shares in the last quarter. Sanibel Captiva Trust Company Inc. increased its stake in shares of Intel by 21.1% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after buying an additional 48,765 shares during the last quarter. Finally, Fortis Group Advisors LLC raised its holdings in Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after acquiring an additional 157,991 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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.