Intel (NASDAQ:INTC) Trading Down 1.5%

Intel Co. (NASDAQ:INTC)’s stock price dropped 1.5% during trading on Tuesday . The company traded as low as $18.70 and last traded at $18.79. Approximately 11,822,215 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 54,278,539 shares. The stock had previously closed at $19.07.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INTC. Roth Mkm reduced their price target on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group cut their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $36.00 to $22.00 in a report on Thursday, August 8th. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Finally, HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research note 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. According to MarketBeat.com, Intel has an average rating of “Hold” and a consensus price target of $32.04.

Intel Stock Down 1.5 %

The firm has a market capitalization of $80.30 billion, a P/E ratio of 19.57 and a beta of 1.03. The company has a fifty day simple moving average of $25.93 and a 200 day simple moving average of $32.26. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. On average, equities analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The firm 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 2.66%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Intel in the 4th quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD grew its holdings in Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares during the period. Capital International Investors grew its holdings in Intel by 16.0% during 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 during the period. Van ECK Associates Corp increased its position in Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after buying an additional 13,035,566 shares in the last quarter. Finally, Davis Selected Advisers raised its stake in shares of Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after buying an additional 5,851,098 shares during the period. 64.53% of the stock is owned by hedge funds and other 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.