Intel (NASDAQ:INTC) Shares Down 0.4% – Time to Sell?

Shares of Intel Co. (NASDAQ:INTC) were down 0.4% during trading on Wednesday . The stock traded as low as $23.06 and last traded at $23.22. Approximately 11,625,552 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 59,038,152 shares. The stock had previously closed at $23.32.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTC. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Roth Mkm reduced their target price on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Wedbush cut their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Benchmark restated a “hold” rating on shares of Intel in a report on Monday, September 23rd. Finally, HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.96.

Intel Stock Up 0.4 %

The stock has a market capitalization of $99.70 billion, a P/E ratio of 24.21 and a beta of 1.03. The stock has a 50 day moving average price of $21.34 and a 200-day moving average price of $29.08. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last posted 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 firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INTC. Price T Rowe Associates Inc. MD lifted its position in Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares in the last quarter. Capital International Investors raised its position in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after buying an additional 13,035,566 shares in the last quarter. Davis Selected Advisers increased its holdings in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Finally, Caxton Associates LP bought a new stake in shares of Intel in the second quarter worth about $162,592,000. 64.53% of the stock is 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.