Intel (NASDAQ:INTC) Stock Price Down 0.3% - Here's What Happened

Shares of Intel Co. (NASDAQ:INTC - Get Free Report) dropped 0.3% on Wednesday . The stock traded as low as $20.30 and last traded at $20.37. Approximately 9,449,265 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 61,445,328 shares. The stock had previously closed at $20.44.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Rosenblatt Securities reaffirmed a "sell" rating and set a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Northland Securities dropped their price target on shares of Intel from $42.00 to $28.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Truist Financial boosted their price objective on shares of Intel from $25.00 to $26.00 and gave the company a "hold" rating in a report on Friday, November 1st. Daiwa America raised shares of Intel to a "hold" rating in a research report on Monday, August 26th. Finally, Benchmark reissued a "hold" rating on shares of Intel in a report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $30.04.

Intel Price Performance

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 50-day moving average is $23.03 and its two-hundred day moving average is $25.01. The company has a market cap of $83.24 billion, a P/E ratio of -5.19 and a beta of 1.05.

Intel (NASDAQ:INTC - Get Free Report) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion for the quarter, compared to analysts' expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. Analysts anticipate that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company's stock, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intel

Several hedge funds have recently made changes to their positions in INTC. State Street Corp increased its holdings in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock valued at $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. Geode Capital Management LLC raised its stake in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker's stock worth $2,410,166,000 after purchasing an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker's stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Finally, Van ECK Associates Corp lifted its position in Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker's stock valued at $967,426,000 after purchasing an additional 9,422,136 shares during the period. 64.53% of the stock is currently 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.