Intel (NASDAQ:INTC) Stock Price Down 2.3% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price dropped 2.3% during trading on Monday . The company traded as low as $19.73 and last traded at $19.83. Approximately 14,969,290 shares traded hands during trading, a decline of 76% from the average daily volume of 61,502,473 shares. The stock had previously closed at $20.30.

Analysts Set New Price Targets

A number of research firms recently weighed in on INTC. Truist Financial upped their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Bank of America reissued an “underperform” rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group reduced their price target 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. Six equities research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.04.

Intel Price Performance

The company’s fifty day moving average is $22.55 and its two-hundred day moving average is $24.41. The stock has a market cap of $86.04 billion, a price-to-earnings ratio of -5.36 and a beta of 1.05. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its 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). The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. As a group, research analysts predict that Intel Co. will post -0.87 earnings per share for the current year.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. America First Investment Advisors LLC purchased a new stake in Intel in the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the second quarter valued at $27,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Intel in the second quarter valued at about $35,000. Quest Partners LLC grew its holdings in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Intel in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.