Intel Co. (NASDAQ:INTC – Get Free Report) shares dropped 2.3% during trading on Monday . The company traded as low as $19.73 and last traded at $19.83. Approximately 14,969,290 shares changed hands during trading, a decline of 76% from the average daily volume of 61,502,473 shares. The stock had previously closed at $20.30.
Analyst Upgrades and Downgrades
Several brokerages recently commented on INTC. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Truist Financial upped their target price on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Bank of America reissued an “underperform” rating and set a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. The Goldman Sachs Group reduced their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Six 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.04.
Intel Stock Performance
The stock has a market capitalization of $85.48 billion, a P/E ratio of -5.33 and a beta of 1.05. 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 company’s fifty day simple moving average is $22.49 and its two-hundred day simple moving average is $24.34.
Intel (NASDAQ:INTC – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 earnings per share. As a group, equities analysts forecast that Intel Co. will post -0.87 EPS for the current year.
Insider Buying and Selling
In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred 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 of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of INTC. Independent Solutions Wealth Management LLC raised its stake in Intel by 29.5% during the third quarter. Independent Solutions Wealth Management LLC now owns 18,895 shares of the chip maker’s stock worth $443,000 after buying an additional 4,304 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Retirement Systems of Alabama lifted its stake in shares of Intel by 0.8% in the 3rd quarter. Retirement Systems of Alabama now owns 946,906 shares of the chip maker’s stock valued at $22,214,000 after purchasing an additional 7,857 shares during the period. Denver PWM LLC boosted its position in shares of Intel by 752.1% during the 3rd quarter. Denver PWM LLC now owns 26,425 shares of the chip maker’s stock valued at $620,000 after purchasing an additional 23,324 shares in the last quarter. Finally, World Investment Advisors LLC grew its stake in Intel by 59.6% during the third quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker’s stock worth $1,009,000 after purchasing an additional 16,046 shares during the period. Institutional investors and hedge funds 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.