Intel (NASDAQ:INTC) Shares Down 3.3% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s share price fell 3.3% during mid-day trading on Tuesday . The company traded as low as $24.17 and last traded at $24.23. 14,511,476 shares were traded during mid-day trading, a decline of 76% from the average session volume of 59,923,945 shares. The stock had previously closed at $25.05.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INTC. Mizuho boosted their price objective on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Argus lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Wedbush cut their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.12.

Intel Stock Down 3.6 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock’s 50-day moving average price is $22.28 and its two-hundred day moving average price is $26.48. The stock has a market capitalization of $104.20 billion, a PE ratio of -6.51 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its 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 business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the prior year, the business posted $0.28 EPS. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts expect that Intel Co. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital International Investors boosted its position in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after acquiring an additional 13,035,566 shares during the last quarter. Davis Selected Advisers grew its stake in shares of Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares during the period. Caxton Associates LP purchased a new position in shares of Intel during the second quarter valued at approximately $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Intel by 2,681.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after purchasing an additional 4,272,395 shares during the period. 64.53% of the stock is 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.