Intel (NASDAQ:INTC) Stock Price Down 3.1% – What’s Next?

Intel Co. (NASDAQ:INTC) traded down 3.1% during trading on Wednesday . The stock traded as low as $23.25 and last traded at $23.31. 16,806,109 shares were traded during trading, a decline of 72% from the average session volume of 59,894,000 shares. The stock had previously closed at $24.05.

Analyst Ratings Changes

INTC has been the subject of a number of research analyst reports. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Cantor Fitzgerald reduced their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Northland Securities lowered their target price on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.12.

Intel Stock Down 1.7 %

The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $23.43 and its 200-day moving average price is $25.97.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the prior year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Intel

Large investors have recently modified their holdings of the business. Key Financial Inc grew its stake in Intel by 4.1% during the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after purchasing an additional 340 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in shares of Intel by 1.4% during the 2nd 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 last quarter. Cypress Asset Management Inc. TX grew its position in shares of Intel by 1.6% during the first quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock worth $1,015,000 after buying an additional 350 shares in the last quarter. Cidel Asset Management Inc. increased its stake in shares of Intel by 0.6% in the second quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after buying an additional 381 shares during the last quarter. Finally, Alhambra Investment Management LLC raised its holdings in Intel by 5.9% in the second quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock valued at $217,000 after acquiring an additional 389 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.