Intel (NASDAQ:INTC) Trading Down 0.5% – Should You Sell?

Intel Co. (NASDAQ:INTC) traded down 0.5% during trading on Wednesday . The stock traded as low as $23.77 and last traded at $24.08. 11,201,056 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 59,842,234 shares. The stock had previously closed at $24.20.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INTC. Truist Financial lifted their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Northland Securities lowered their target price on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. Finally, New Street Research downgraded Intel from a “buy” rating to a “neutral” rating 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $30.12.

Intel Stock Performance

The firm’s 50-day moving average is $23.10 and its 200 day moving average is $26.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a market cap of $105.35 billion, a PE ratio of -6.57 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. As a group, research analysts anticipate that Intel Co. will post -0.83 EPS for the current year.

Insider Transactions at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were 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 in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SOA Wealth Advisors LLC. lifted its position in shares of Intel by 7.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 9,076 shares of the chip maker’s stock valued at $213,000 after acquiring an additional 615 shares during the period. Advisory Resource Group increased its stake in Intel by 6.7% in the 3rd quarter. Advisory Resource Group now owns 16,579 shares of the chip maker’s stock valued at $389,000 after purchasing an additional 1,034 shares in the last quarter. Second Line Capital LLC acquired a new position in Intel during the third quarter worth $236,000. Soltis Investment Advisors LLC boosted its position in Intel by 158.0% during the third quarter. Soltis Investment Advisors LLC now owns 47,791 shares of the chip maker’s stock worth $1,121,000 after purchasing an additional 29,265 shares in the last quarter. Finally, Arete Wealth Advisors LLC acquired a new stake in Intel in the third quarter valued at $203,000. Institutional investors and hedge funds 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.