Shares of Intel Co. (NASDAQ:INTC - Get Free Report) were down 4.3% during mid-day trading on Friday . The company traded as low as $18.97 and last traded at $19.02. Approximately 28,138,425 shares changed hands during trading, a decline of 46% from the average daily volume of 51,767,906 shares. The stock had previously closed at $19.88.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on INTC shares. Truist Financial raised their price target on Intel from $25.00 to $26.00 and gave the company a "hold" rating in a report on Friday, November 1st. Robert W. Baird raised their target price on shares of Intel from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Needham & Company LLC restated a "hold" rating on shares of Intel in a research report on Friday, November 1st. Bank of America reiterated an "underperform" rating and set a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. Finally, Mizuho dropped their target price on Intel from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Friday. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.96.
Read Our Latest Stock Report on INTC
Intel Stock Performance
The firm has a market capitalization of $82.59 billion, a price-to-earnings ratio of -5.15 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The firm's fifty day moving average is $22.12 and its 200 day moving average is $23.83.
Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion for the quarter, compared to analysts' expectations of $13.02 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The company's revenue was down 6.3% on a year-over-year basis. On average, analysts predict that Intel Co. will post -0.87 EPS for the current fiscal year.
Insider Transactions at Intel
In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.04% of the company's stock.
Hedge Funds Weigh In On Intel
Hedge funds have recently bought and sold shares of the business. William B. Walkup & Associates Inc. bought a new stake in shares of Intel during the 2nd quarter worth about $2,178,000. Geode Capital Management LLC boosted its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares during the period. Principal Financial Group Inc. grew its holdings in Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock valued at $113,244,000 after purchasing an additional 204,200 shares during the last quarter. Swiss National Bank raised its position in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker's stock valued at $296,426,000 after purchasing an additional 31,800 shares during the period. Finally, SGL Investment Advisors Inc. acquired a new stake in shares of Intel in the third quarter worth $2,365,000. 64.53% of the stock is owned by institutional investors and hedge funds.
About Intel
(
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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.
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