Intel (NASDAQ:INTC) Trading Down 1.1%

Intel Co. (NASDAQ:INTC)’s stock price dropped 1.1% during mid-day trading on Wednesday . The stock traded as low as $21.12 and last traded at $21.23. Approximately 24,201,848 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 55,696,086 shares. The stock had previously closed at $21.47.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INTC. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Wedbush dropped their target price on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Barclays reduced their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Finally, Truist Financial decreased their target price on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $32.04.

Intel Stock Performance

The company has a 50 day moving average of $24.45 and a two-hundred day moving average of $31.29. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The company has a market capitalization of $89.31 billion, a PE ratio of 22.11 and a beta of 1.03.

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

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given 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 2.38%. Intel’s dividend payout ratio is currently 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INTC. Johnson Financial Group Inc. lifted its stake in shares of Intel by 4.5% in the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after purchasing an additional 247 shares during the period. Enterprise Financial Services Corp grew its stake in shares of Intel by 2.2% during the 4th quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock valued at $576,000 after acquiring an additional 251 shares during the period. Summit Financial Strategies Inc. increased its holdings in Intel by 3.7% in the 4th quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock worth $371,000 after acquiring an additional 265 shares in the last quarter. Cape Investment Advisory Inc. raised its stake in Intel by 5.5% during the 4th quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock worth $261,000 after acquiring an additional 270 shares during the period. Finally, Copperwynd Financial LLC boosted its position in shares of Intel by 0.6% in the fourth quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock worth $2,283,000 after purchasing an additional 273 shares during the period. 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.