Intel (NASDAQ:INTC) Trading Down 1.5%

Intel Co. (NASDAQ:INTC)’s share price fell 1.5% during mid-day trading on Thursday . The stock traded as low as $19.05 and last traded at $19.34. 13,075,043 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 54,390,586 shares. The stock had previously closed at $19.64.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTC. Wedbush decreased their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.04.

Intel Stock Performance

The company has a market cap of $83.01 billion, a PE ratio of 20.15 and a beta of 1.03. The business’s fifty day moving average is $25.46 and its 200-day moving average is $32.00. 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 released its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) EPS. Intel’s revenue was down .8% on a year-over-year basis. As a group, research analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several large investors have recently bought and sold shares of INTC. Norges Bank bought a new stake in Intel in the fourth quarter worth $2,424,202,000. Price T Rowe Associates Inc. MD increased its position in Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the last quarter. Capital International Investors increased its position in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp boosted its stake in Intel by 60.5% during 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 during the period. Finally, Davis Selected Advisers boosted its stake in Intel by 86.2% during 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. Institutional investors 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.