Intel (NASDAQ:INTC) Shares Down 1.9%

Intel Co. (NASDAQ:INTC) shares were down 1.9% on Friday . The company traded as low as $20.63 and last traded at $20.74. Approximately 19,152,762 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 56,257,164 shares. The stock had previously closed at $21.14.

Wall Street Analyst Weigh In

Several research firms recently commented on INTC. Deutsche Bank Aktiengesellschaft reduced their price objective on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. TD Cowen upgraded shares of Intel to a “hold” rating in a research note on Monday. Argus cut Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a research note 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.04.

Intel Stock Down 2.6 %

The stock has a market cap of $87.69 billion, a P/E ratio of 21.60 and a beta of 1.03. The stock’s fifty day simple moving average is $23.92 and its 200-day simple moving average is $31.15. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion for 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%. Intel’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.43%. Intel’s dividend payout ratio is presently 52.08%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value 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. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

Institutional Trading of Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after acquiring an additional 3,310,528 shares during the period. Capital International Investors grew its stake in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Intel by 2.2% in the 2nd 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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 boosted its holdings in Intel by 1.3% during the second 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. 64.53% of the stock is currently owned by 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.