Intel (NASDAQ:INTC) Stock Price Down 0.2% – Time to Sell?

Intel Co. (NASDAQ:INTC) traded down 0.2% during mid-day trading on Thursday . The company traded as low as $19.19 and last traded at $19.27. 18,958,273 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 61,576,234 shares. The stock had previously closed at $19.30.

Analysts Set New Price Targets

Several equities analysts recently issued reports on INTC shares. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Truist Financial raised their price target on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Bank of America reaffirmed an “underperform” rating and set a $21.00 price objective on shares of Intel in a research report on Tuesday, December 3rd. Stifel Nicolaus reissued a “hold” rating and set a $25.00 target price (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Finally, Northland Securities reduced their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Intel has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Stock Performance

The stock has a fifty day moving average of $22.78 and a 200-day moving average of $24.86. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The stock has a market cap of $84.19 billion, a PE ratio of -5.25 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC increased its holdings in Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after acquiring an additional 12,865,308 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after acquiring an additional 9,422,136 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.