Intel (NASDAQ:INTC) Shares Down 1.1%

Intel Co. (NASDAQ:INTC)’s stock price traded down 1.1% during trading on Wednesday . The company traded as low as $21.12 and last traded at $21.23. 24,201,848 shares traded hands during trading, a decline of 57% from the average session volume of 55,696,086 shares. The stock had previously closed at $21.47.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. Benchmark cut shares of Intel from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Wedbush dropped their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $35.00 to $23.00 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.04.

Intel Stock Down 2.3 %

The business’s fifty day moving average is $24.45 and its two-hundred day moving average is $31.29. The company has a market cap of $89.31 billion, a P/E ratio of 22.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) EPS. Equities analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.38%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. boosted its stake in Intel by 71.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 4,642 shares of the chip maker’s stock worth $144,000 after purchasing an additional 1,928 shares in the last quarter. Brightwater Advisory LLC acquired a new position in shares of Intel in the second quarter valued at about $208,000. Heritage Wealth Management Inc. acquired a new stake in shares of Intel during the second quarter worth about $2,115,000. Sanctuary Advisors LLC purchased a new stake in Intel in the second quarter valued at approximately $9,265,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Intel in the 2nd quarter worth approximately $65,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Company Profile

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.