Intel (NASDAQ:INTC) Trading Down 0.9% – Time to Sell?

Shares of Intel Co. (NASDAQ:INTC) traded down 0.9% during mid-day trading on Friday . The stock traded as low as $20.10 and last traded at $20.25. 11,845,485 shares were traded during mid-day trading, a decline of 81% from the average session volume of 61,544,734 shares. The stock had previously closed at $20.44.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Northland Securities dropped their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Rosenblatt Securities reissued a “sell” rating and set a $17.00 target price on shares of Intel in a research note on Tuesday, October 29th. Finally, Truist Financial lifted their price target on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $30.04.

Intel Stock Down 1.4 %

The firm has a market cap of $86.95 billion, a P/E ratio of -5.42 and a beta of 1.05. The firm’s fifty day moving average is $22.60 and its 200 day moving average is $24.58. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

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

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intel

Several institutional investors and hedge funds have recently bought and sold shares of INTC. Allspring Global Investments Holdings LLC boosted its holdings in shares of Intel by 164.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 618,175 shares of the chip maker’s stock valued at $19,145,000 after purchasing an additional 384,440 shares in the last quarter. Panagora Asset Management Inc. grew its position in Intel by 95.4% in the second quarter. Panagora Asset Management Inc. now owns 150,672 shares of the chip maker’s stock valued at $4,666,000 after acquiring an additional 73,581 shares during the last quarter. F M Investments LLC bought a new position in shares of Intel in the second quarter worth about $490,000. Azzad Asset Management Inc. ADV boosted its stake in shares of Intel by 1.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 34,491 shares of the chip maker’s stock valued at $1,068,000 after purchasing an additional 478 shares in the last quarter. Finally, Atlas Capital Advisors LLC grew its holdings in shares of Intel by 3,090.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 15,444 shares of the chip maker’s stock valued at $478,000 after purchasing an additional 14,960 shares during the last quarter. 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.