Intel (NASDAQ:INTC) Shares Down 1.4% on Disappointing Earnings

Intel Co. (NASDAQ:INTC) traded down 1.4% during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $19.44 and last traded at $19.47. 22,253,170 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 66,674,023 shares. The stock had previously closed at $19.75.

The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%.

Wall Street Analysts Forecast Growth

Several research firms have commented on INTC. Citigroup dropped their price target on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Bank of America restated an “underperform” rating and issued a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Northland Securities reduced their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Robert W. Baird raised their price target on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Mizuho reduced their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.60.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. SilverOak Wealth Management LLC increased its position in Intel by 19.1% in the 4th quarter. SilverOak Wealth Management LLC now owns 22,360 shares of the chip maker’s stock worth $448,000 after purchasing an additional 3,588 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Intel by 39.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 176,037 shares of the chip maker’s stock valued at $3,530,000 after buying an additional 49,702 shares in the last quarter. Beaton Management Co. Inc. increased its holdings in Intel by 8.9% in the fourth quarter. Beaton Management Co. Inc. now owns 25,282 shares of the chip maker’s stock worth $507,000 after buying an additional 2,074 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Intel by 588.6% in the fourth quarter. Venturi Wealth Management LLC now owns 8,821 shares of the chip maker’s stock valued at $177,000 after acquiring an additional 7,540 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in Intel by 1.9% in the fourth quarter. Empower Advisory Group LLC now owns 72,852 shares of the chip maker’s stock worth $1,461,000 after acquiring an additional 1,340 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Down 2.9 %

The company has a market cap of $83.80 billion, a price-to-earnings ratio of -5.22, a price-to-earnings-growth ratio of 9.64 and a beta of 1.07. The company’s 50 day moving average price is $20.78 and its 200 day moving average price is $22.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

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.