Intel (NASDAQ:INTC) Stock Price Down 3.1% – What’s Next?

Intel Co. (NASDAQ:INTC) traded down 3.1% during mid-day trading on Tuesday . The company traded as low as $22.55 and last traded at $22.72. 14,775,020 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 58,714,629 shares. The stock had previously closed at $23.44.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Rosenblatt Securities restated a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Friday, August 2nd. Susquehanna decreased their target price on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. UBS Group decreased their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Finally, Cantor Fitzgerald lowered their price target on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.92.

Intel Stock Up 0.6 %

The business has a 50-day simple moving average of $21.30 and a two-hundred day simple moving average of $28.33. The company has a market cap of $95.53 billion, a price-to-earnings ratio of 23.50 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. As a group, equities analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.23%. Intel’s payout ratio is presently 52.08%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their position. The transaction 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.

Hedge Funds Weigh In On Intel

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. grew its stake in shares of Intel by 2.6% in the 1st quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock valued at $736,000 after purchasing an additional 418 shares during the period. First Hawaiian Bank grew its stake in shares of Intel by 6.2% in the 1st quarter. First Hawaiian Bank now owns 43,890 shares of the chip maker’s stock valued at $1,939,000 after purchasing an additional 2,549 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Intel by 12.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 12,753 shares of the chip maker’s stock valued at $563,000 after purchasing an additional 1,408 shares during the period. Foster Group Inc. bought a new stake in shares of Intel in the 1st quarter valued at approximately $319,000. Finally, Perpetual Ltd grew its stake in shares of Intel by 157.7% in the 1st quarter. Perpetual Ltd now owns 53,089 shares of the chip maker’s stock valued at $2,345,000 after purchasing an additional 32,490 shares during the period. 64.53% of the stock is currently owned by institutional investors.

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.