Intel (NASDAQ:INTC) Shares Down 2.7%

Intel Co. (NASDAQ:INTC) shares were down 2.7% during mid-day trading on Tuesday . The company traded as low as $22.66 and last traded at $22.83. Approximately 17,673,236 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 59,047,605 shares. The stock had previously closed at $23.46.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on INTC shares. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price target on Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, August 2nd. Finally, Morgan Stanley decreased their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel Stock Performance

The stock has a market cap of $96.63 billion, a P/E ratio of 23.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The firm’s 50-day moving average price is $22.38 and its 200-day moving average price is $29.91.

Intel (NASDAQ:INTC) last posted 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 return on equity of 1.78% and a net margin of 1.77%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) earnings per share. Sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $20.16 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intel

Several hedge funds have recently modified their holdings of the company. Tributary Capital Management LLC acquired a new stake in shares of Intel in the first quarter worth about $27,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Intel in the 1st quarter valued at approximately $36,000. America First Investment Advisors LLC bought a new stake in shares of Intel in the 2nd quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel in the 2nd quarter worth approximately $27,000. Finally, Richardson Financial Services Inc. acquired a new position in Intel during the 4th quarter worth $46,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Company Profile

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.