Intel (NASDAQ:INTC) Stock Price Down 2.6% - Should You Sell?

Intel Co. (NASDAQ:INTC - Get Free Report) shares dropped 2.6% during trading on Wednesday . The company traded as low as $21.74 and last traded at $22.08. Approximately 27,648,588 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 58,805,777 shares. The stock had previously closed at $22.66.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INTC. Benchmark reaffirmed a "hold" rating on shares of Intel in a research note on Monday, September 23rd. Wedbush decreased their price target 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. Susquehanna dropped their price objective on shares of Intel from $35.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. StockNews.com downgraded shares of Intel from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. Finally, New Street Research cut Intel from a "buy" rating to a "neutral" rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $31.96.

Intel Stock Down 1.5 %

The company has a fifty day simple moving average of $21.24 and a 200-day simple moving average of $28.37. 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 firm has a market cap of $94.97 billion, a P/E ratio of 23.00 and a beta of 1.03.

Intel (NASDAQ:INTC - Get Free Report) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion during the quarter, compared to analysts' expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company's revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, equities analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid 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 2.24%. Intel's payout ratio is presently 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company's stock in a transaction on Monday, August 5th. The stock was acquired at an average cost 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 $765,576. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.04% of the company's stock.

Institutional Trading of Intel

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker's stock valued at $17,186,478,000 after buying an additional 3,310,528 shares during the last quarter. Capital International Investors grew its holdings in shares of Intel by 16.0% in 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 purchasing an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA raised its stake in Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker's stock valued at $2,410,166,000 after purchasing an additional 1,697,550 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Intel by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker's stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker's stock worth $1,161,779,000 after buying an additional 487,191 shares in the last quarter. Hedge funds and other 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.