Intel (NASDAQ:INTC) Stock Price Down 4.3% – What’s Next?

Intel Co. (NASDAQ:INTC)’s stock price dropped 4.3% during trading on Friday . The stock traded as low as $18.97 and last traded at $19.02. Approximately 28,138,425 shares traded hands during trading, a decline of 46% from the average daily volume of 51,767,906 shares. The stock had previously closed at $19.88.

Analysts Set New Price Targets

INTC has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Northland Securities cut their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Truist Financial upped their price objective on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Robert W. Baird raised their target price on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.04.

Intel Stock Down 3.7 %

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 firm has a 50-day moving average of $22.12 and a 200 day moving average of $23.83. The stock has a market capitalization of $82.55 billion, a price-to-earnings ratio of -5.15 and a beta of 1.07.

Intel (NASDAQ:INTC) last announced 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 the consensus estimate 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 revenue was down 6.3% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. As a group, sell-side analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction 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. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INTC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 purchasing an additional 12,865,308 shares during the period. Van ECK Associates Corp boosted its position in shares of Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after acquiring an additional 7,207,785 shares in the last quarter. State Street Corp increased its position in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. Finally, Caxton Associates LP acquired a new stake in Intel in the 2nd quarter worth about $162,592,000. 64.53% of the stock is 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.