Intel (NASDAQ:INTC) Trading Down 1.4% – Here’s Why

Intel Co. (NASDAQ:INTC) shares fell 1.4% on Thursday . The company traded as low as $19.44 and last traded at $19.47. 22,253,170 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 66,674,023 shares. The stock had previously closed at $19.75.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INTC. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. UBS Group cut their price target on Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Bank of America reissued an “underperform” rating and issued a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. Citigroup reduced their price target on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Finally, Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $28.00.

Intel Price Performance

The company’s 50-day simple moving average is $20.97 and its 200-day simple moving average is $22.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The company has a market cap of $86.43 billion, a price-to-earnings ratio of -5.39, a P/E/G ratio of 9.72 and a beta of 1.07.

Intel (NASDAQ:INTC) last released 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). The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. On average, equities research analysts anticipate that Intel Co. will post -0.87 EPS for the current year.

Insider Transactions at Intel

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 value of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC increased its stake in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Van ECK Associates Corp grew its position in shares of Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Intel by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after acquiring an additional 2,248,332 shares during the last quarter. 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.