Intel (NASDAQ:INTC) Shares Down 3.3% – What’s Next?

Intel Co. (NASDAQ:INTC) shares traded down 3.3% during trading on Tuesday . The company traded as low as $24.17 and last traded at $24.23. 14,511,476 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 59,923,945 shares. The stock had previously closed at $25.05.

Analysts Set New Price Targets

A number of analysts have commented on the company. The Goldman Sachs Group reduced their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Northland Securities cut their target price on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a research report on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Bank of America cut Intel from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Price Performance

The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $107.95 billion, a P/E ratio of -6.81 and a beta of 1.03. The stock has a 50 day moving average of $22.47 and a 200-day moving average of $26.42.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) 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 business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the prior year, the business posted $0.28 earnings per share. Intel’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in INTC. Capital International Investors lifted its position in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Intel by 28.2% in the 3rd 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 valued at $1,371,692,000 after buying an additional 12,865,308 shares during the period. Davis Selected Advisers lifted its holdings in shares of Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after buying an additional 5,851,098 shares during the period. Finally, Caxton Associates LP acquired a new position in shares of Intel in the 2nd quarter valued at about $162,592,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.