Intel (NASDAQ:INTC) Posts Quarterly Earnings Results

Key Points

• Intel reported quarterly earnings of $0.11 per share, but exhibited a negative return on equity of -3.78% and a negative net margin of -38.64%.
• Shares of Intel increased by $1.24 to reach $38.16, with a market capitalization of $167.03 billion and a price-to-earnings ratio of -8.00.
• Recent analyst ratings varied: while HSBC downgraded Intel to "moderate sell," Benchmark raised its rating to "buy" with a price target of $43.00.

Intel (NASDAQ:INTC - Get Free Report) issued its quarterly earnings results on Thursday. The chip maker reported $0.11 earnings per share (EPS) for the quarter, Zacks reports. Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%.

Intel Price Performance

Shares of INTC traded up $1.24 during midday trading on Thursday, hitting $38.16. The company's stock had a trading volume of 101,247,042 shares, compared to its average volume of 103,073,961. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. Intel has a one year low of $17.67 and a one year high of $39.65. The stock has a market capitalization of $167.03 billion, a price-to-earnings ratio of -8.00 and a beta of 1.33. The company's fifty day simple moving average is $29.81 and its two-hundred day simple moving average is $24.06.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INTC. Sivia Capital Partners LLC increased its position in Intel by 271.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 34,201 shares of the chip maker's stock valued at $766,000 after buying an additional 25,001 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Intel by 12.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 13,737 shares of the chip maker's stock worth $308,000 after purchasing an additional 1,508 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Intel by 29.6% during the 2nd quarter. NewEdge Advisors LLC now owns 158,277 shares of the chip maker's stock worth $3,545,000 after purchasing an additional 36,116 shares in the last quarter. Sei Investments Co. increased its holdings in Intel by 9.9% during the 2nd quarter. Sei Investments Co. now owns 828,352 shares of the chip maker's stock worth $18,556,000 after purchasing an additional 74,838 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Intel by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,703,622 shares of the chip maker's stock valued at $60,561,000 after acquiring an additional 35,108 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTC has been the subject of several recent analyst reports. Hsbc Global Res downgraded Intel from a "hold" rating to a "moderate sell" rating in a report on Tuesday, October 7th. Benchmark upgraded Intel from a "hold" rating to a "buy" rating and set a $43.00 price target for the company in a report on Friday, September 19th. Loop Capital started coverage on Intel in a report on Monday, July 21st. They set a "hold" rating and a $25.00 price objective for the company. Rosenblatt Securities reiterated a "sell" rating and set a $14.00 price objective on shares of Intel in a report on Friday, July 25th. Finally, Morgan Stanley increased their price objective on Intel from $23.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, Intel has an average rating of "Reduce" and a consensus price target of $29.26.

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.

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