Intel (NASDAQ:INTC) Trading Down 0.7% – What’s Next?

Shares of Intel Co. (NASDAQ:INTC) fell 0.7% on Friday . The stock traded as low as $24.17 and last traded at $24.27. 6,993,094 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 59,783,711 shares. The stock had previously closed at $24.44.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a research note on Friday, October 25th. The Goldman Sachs Group decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Roth Mkm decreased their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.12.

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 business has a 50-day moving average of $23.19 and a 200 day moving average of $26.11. The firm has a market capitalization of $105.67 billion, a PE ratio of -6.59 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the business earned $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, research analysts anticipate that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INTC. Key Financial Inc raised its holdings in shares of Intel by 4.1% in 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. W.G. Shaheen & Associates DBA Whitney & Co raised its stake in shares of Intel by 1.4% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock valued at $767,000 after buying an additional 348 shares during the period. Cypress Asset Management Inc. TX lifted its position in shares of Intel by 1.6% during the 1st quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock valued at $1,015,000 after buying an additional 350 shares during the last quarter. Cidel Asset Management Inc. grew its stake in shares of Intel by 0.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after acquiring an additional 381 shares during the period. Finally, Alhambra Investment Management LLC increased its holdings in Intel by 5.9% in the 2nd quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock worth $217,000 after acquiring an additional 389 shares during the last quarter. 64.53% of the stock is currently 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.