Intel (NASDAQ:INTC) Trading Down 1.8%

Intel Co. (NASDAQ:INTC)’s share price dropped 1.8% on Wednesday . The company traded as low as $18.63 and last traded at $18.64. Approximately 10,428,477 shares traded hands during trading, a decline of 81% from the average daily volume of 54,278,250 shares. The stock had previously closed at $18.98.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wedbush dropped their target price on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Morgan Stanley dropped their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $32.04.

Intel Trading Up 1.4 %

The firm has a market cap of $82.27 billion, a P/E ratio of 19.42 and a beta of 1.03. The business’s 50 day moving average is $25.69 and its 200-day moving average is $32.09. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period in the prior year, the business earned ($0.05) EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.60%. Intel’s payout ratio is currently 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several institutional investors have recently modified their holdings of INTC. Newbridge Financial Services Group Inc. raised its stake in Intel by 71.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 4,642 shares of the chip maker’s stock valued at $144,000 after acquiring an additional 1,928 shares in the last quarter. Brightwater Advisory LLC acquired a new position in shares of Intel during the second quarter valued at $208,000. Heritage Wealth Management Inc. bought a new stake in shares of Intel during the second quarter valued at about $2,115,000. Sanctuary Advisors LLC acquired a new stake in Intel in the second quarter worth about $9,265,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Intel in the 2nd quarter valued at about $65,000. Institutional investors 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.