Intel (NASDAQ:INTC) Shares Down 1.8% – What’s Next?

Intel Co. (NASDAQ:INTC)’s stock price fell 1.8% on Tuesday . The stock traded as low as $22.38 and last traded at $22.44. 9,107,910 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 58,491,707 shares. The stock had previously closed at $22.84.

Analysts Set New Price Targets

Several brokerages recently weighed in on INTC. Northland Securities cut their price objective on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Truist Financial cut their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $31.92.

Intel Stock Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company has a market cap of $95.06 billion, a P/E ratio of 23.38 and a beta of 1.03. The firm has a 50 day moving average price of $21.47 and a 200-day moving average price of $27.82.

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). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The company 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. This represents a $0.50 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is 52.08%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intel

Several large investors have recently added to or reduced their stakes in INTC. Guardian Capital Advisors LP boosted its stake in Intel by 2.1% in the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock worth $708,000 after buying an additional 328 shares in the last quarter. Valley National Advisers Inc. boosted its stake in shares of Intel by 5.5% in the 1st quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock valued at $278,000 after purchasing an additional 330 shares in the last quarter. Richard C. Young & CO. LTD. grew its holdings in shares of Intel by 0.9% during the 1st quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock valued at $1,656,000 after purchasing an additional 338 shares during the last quarter. Key Financial Inc raised its position in Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after purchasing an additional 340 shares during the period. Finally, Comprehensive Financial Consultants Institutional Inc. lifted its stake in Intel by 5.0% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,151 shares of the chip maker’s stock worth $316,000 after purchasing an additional 342 shares during the last quarter. 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.