Intel (NASDAQ:INTC) Shares Down 0.3%

Intel Co. (NASDAQ:INTC)’s share price dropped 0.3% during mid-day trading on Tuesday . The stock traded as low as $22.28 and last traded at $22.50. Approximately 31,346,924 shares changed hands during trading, a decline of 46% from the average daily volume of 58,129,430 shares. The stock had previously closed at $22.56.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on INTC shares. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $22.00 in a research note on Thursday, August 8th. Northland Securities dropped their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Argus downgraded Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Finally, Truist Financial dropped their price objective on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and an average target price of $32.04.

Intel Stock Up 2.2 %

The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $23.43 and its 200-day moving average price is $30.64. The stock has a market cap of $98.12 billion, a price-to-earnings ratio of 23.44 and a beta of 1.03.

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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the company posted ($0.05) EPS. The business’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.17%. Intel’s payout ratio is currently 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. America First Investment Advisors LLC acquired a new stake in Intel in the 2nd quarter valued at $25,000. Burkett Financial Services LLC bought a new stake in shares of Intel during the fourth quarter worth about $27,000. Tributary Capital Management LLC bought a new stake in shares of Intel during the first quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new position in Intel in the 2nd quarter valued at about $27,000. Finally, Spartan Fund Management Inc. acquired a new position in Intel during the 2nd quarter valued at about $31,000. Institutional investors own 64.53% of the company’s stock.

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.