Intel (NASDAQ:INTC) Trading Down 2.7% – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) dropped 2.7% during trading on Thursday . The stock traded as low as $21.60 and last traded at $21.69. Approximately 13,359,128 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 58,377,266 shares. The stock had previously closed at $22.30.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Morgan Stanley dropped their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Susquehanna reduced their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, Daiwa America raised Intel to a “hold” rating in a report on Monday, August 26th. Six investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.80.

Intel Trading Down 2.8 %

The company has a market cap of $92.25 billion, a price-to-earnings ratio of 22.59 and a beta of 1.03. The business’s fifty day moving average price is $21.71 and its 200 day moving average price is $27.15. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last announced its 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 return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period in the previous year, the firm posted ($0.05) earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intel

A number of hedge funds have recently added to or reduced their stakes in the business. America First Investment Advisors LLC bought a new position in Intel during the second quarter worth $25,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel in the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. bought a new stake in Intel in the 2nd quarter valued at about $31,000. Financial Connections Group Inc. acquired a new position in Intel during the 2nd quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Intel in the 2nd quarter worth $33,000. 64.53% of the stock is currently owned by 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.