Intel (NASDAQ:INTC) Trading Down 2.4%

Intel Co. (NASDAQ:INTC)’s stock price was down 2.4% during mid-day trading on Tuesday . The stock traded as low as $20.82 and last traded at $21.00. Approximately 25,420,822 shares were traded during trading, a decline of 51% from the average daily volume of 52,147,992 shares. The stock had previously closed at $21.52.

Wall Street Analyst Weigh In

Several analysts have issued reports on INTC shares. TD Cowen cut their price target on Intel from $35.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Wedbush dropped their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped 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. Finally, Jefferies Financial Group assumed coverage on Intel in a research note on Monday, May 13th. They issued a “hold” rating and a $34.00 price objective for the company. Six analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel Stock Performance

The stock has a market capitalization of $89.61 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average price is $29.07 and its two-hundred day moving average price is $34.70.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 company 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 1.82%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) earnings per share. As a group, equities research analysts forecast that Intel Co. will post 0.07 EPS for the current year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.38%. Intel’s dividend payout ratio is presently 52.08%.

Insider Buying and Selling

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

Institutional Trading of Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Johnson Financial Group Inc. increased its position in shares of Intel by 4.5% during the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after acquiring an additional 247 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in Intel by 5.3% during the 4th quarter. Benjamin Edwards Inc. now owns 4,974 shares of the chip maker’s stock worth $250,000 after acquiring an additional 249 shares in the last quarter. Enterprise Financial Services Corp grew its position in Intel by 2.2% in the 4th quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock valued at $576,000 after acquiring an additional 251 shares in the last quarter. Summit Financial Strategies Inc. increased its stake in Intel by 3.7% during the fourth quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock worth $371,000 after purchasing an additional 265 shares during the period. Finally, Cape Investment Advisory Inc. increased its stake in Intel by 5.5% during the 4th quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock worth $261,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds 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.