Intel (NASDAQ:INTC) Stock Price Down 1.9%

Intel Co. (NASDAQ:INTC) shares traded down 1.9% on Friday . The stock traded as low as $20.63 and last traded at $20.74. 19,152,762 shares traded hands during trading, a decline of 66% from the average session volume of 56,257,164 shares. The stock had previously closed at $21.14.

Analysts Set New Price Targets

Several research firms recently issued reports on INTC. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Northland Securities decreased their target price on Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Wedbush lowered their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Morgan Stanley dropped their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average target price 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 company has a market capitalization of $87.69 billion, a P/E ratio of 21.60 and a beta of 1.03. The company’s 50-day moving average is $23.92 and its two-hundred day moving average is $31.15.

Intel (NASDAQ:INTC) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Equities analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors 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 annualized dividend and a yield of 2.43%. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price 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 in the company, valued at $765,576. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently modified their holdings of the company. America First Investment Advisors LLC purchased a new position in shares of Intel during the second quarter valued at about $25,000. Frazier Financial Advisors LLC purchased a new position in Intel during the 4th quarter valued at about $27,000. Burkett Financial Services LLC purchased a new stake in Intel during the fourth quarter worth $27,000. Tributary Capital Management LLC purchased a new position in Intel in the first quarter valued at about $27,000. Finally, Cyrus J. Lawrence LLC purchased a new stake in Intel during the second quarter valued at approximately $27,000. 64.53% of the stock is currently owned by institutional investors.

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.