Intel (NASDAQ:INTC) Shares Down 2.7%

Shares of Intel Co. (NASDAQ:INTC) traded down 2.7% during mid-day trading on Tuesday . The company traded as low as $22.66 and last traded at $22.83. 17,673,236 shares traded hands during trading, a decline of 70% from the average session volume of 59,047,605 shares. The stock had previously closed at $23.46.

Analysts Set New Price Targets

Several brokerages have issued reports on INTC. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Northland Securities decreased their target price on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a report on Monday, September 16th. Finally, Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $32.04.

Intel Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The firm’s 50 day moving average is $22.38 and its 200 day moving average is $29.91. The firm has a market cap of $96.63 billion, a P/E ratio of 23.78 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued 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 the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. As a group, analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

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 dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.20%. Intel’s dividend payout ratio is currently 52.08%.

Insider Buying and Selling at Intel

In other 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 completion of the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intel

Institutional investors have recently bought and sold shares of the business. America First Investment Advisors LLC purchased a new position in shares of Intel during the 2nd quarter valued at approximately $25,000. Tributary Capital Management LLC acquired a new position in shares of Intel during the 1st quarter valued at about $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. acquired a new position in shares of Intel during the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. acquired a new position in Intel in the second quarter valued at about $32,000. 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.