Intel (NASDAQ:INTC) Trading Down 3.5%

Intel Co. (NASDAQ:INTC)’s share price dropped 3.5% on Friday . The stock traded as low as $18.70 and last traded at $18.72. Approximately 30,041,016 shares were traded during trading, a decline of 44% from the average daily volume of 54,066,613 shares. The stock had previously closed at $19.40.

Wall Street Analysts Forecast Growth

INTC has been the subject of several recent analyst reports. Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a research note on Thursday, May 16th. Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. Jefferies Financial Group initiated coverage on Intel in a research note on Monday, May 13th. They issued a “hold” rating and a $34.00 target price for the company. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given 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 an average rating of “Hold” and a consensus price target of $32.04.

Intel Stock Performance

The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The stock has a market cap of $79.86 billion, a price-to-earnings ratio of 19.50 and a beta of 1.05. The company’s 50-day simple moving average is $26.41 and its 200-day simple moving average is $32.76.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). The business had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) EPS. Analysts predict that Intel Co. will post -0.46 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTC. America First Investment Advisors LLC purchased a new position in shares of Intel during the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC purchased a new position in shares of Intel during the 4th quarter valued at $27,000. Burkett Financial Services LLC purchased a new position in shares of Intel during the 4th quarter valued at $27,000. Tributary Capital Management LLC purchased a new position in shares of Intel during the 1st quarter valued at $27,000. Finally, Cyrus J. Lawrence LLC purchased a new position in shares of Intel during the 2nd quarter valued at $27,000. 64.53% of the stock is currently owned by hedge funds and other 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.