Intel (NASDAQ:INTC) Shares Down 1.1%

Intel Co. (NASDAQ:INTC) shares were down 1.1% on Tuesday . The stock traded as low as $32.84 and last traded at $33.01. Approximately 6,741,430 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 47,759,660 shares. The stock had previously closed at $33.37.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on INTC shares. Evercore ISI reduced their target price on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a report on Friday, April 26th. Mizuho dropped their price target on Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Wedbush lowered their target price on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a report on Friday, April 26th. HSBC cut their price target on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $40.00 price objective on shares of Intel in a research note on Tuesday, July 16th. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus price target of $39.25.

Intel Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The company has a market cap of $132.39 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 19.72 and a beta of 1.05. The company’s 50 day moving average price is $31.66 and its 200-day moving average price is $37.67.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The firm had revenue of $12.72 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Equities research analysts anticipate that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the transaction, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Patrick P. Gelsinger acquired 4,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the acquisition, the chief executive officer now owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several large investors have recently modified their holdings of INTC. Norges Bank bought a new position in shares of Intel in the fourth quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD lifted its position in Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after acquiring an additional 31,575,084 shares in the last quarter. Capital International Investors boosted its stake in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Intel by 102.6% in the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Intel by 44.8% in the first quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after purchasing an additional 6,673,086 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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.