Intel (NASDAQ:INTC) Shares Down 2.1% - Here's What Happened

Key Points

• Intel shares fell 2.1% on Tuesday despite heavy trading volume, with the stock hitting an intraday low of $99.46 before last trading at $107.92.
• Positive foundry and AI headlines included reports that Intel won a major Google order for TPU chips in 2028, expanded its collaboration with Cadence on Intel 14A, and announced a strategic partnership with Hitachi.
• Broader semiconductor weakness weighed on the stock, as chip shares sold off and some investors questioned the certainty of the rumored Google/Nvidia foundry wins.

Shares of Intel Corporation (NASDAQ:INTC - Get Free Report) fell 2.1% on Tuesday . The company traded as low as $99.46 and last traded at $107.92. 147,430,174 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 120,485,984 shares. The stock had previously closed at $110.27.

Trending Headlines about Intel

Here are the key news stories impacting Intel this week:

• Positive Sentiment: Intel reportedly won a major Google order to manufacture more than three million TPU chips in 2028, which would validate its foundry push and provide a large future revenue stream.
• Positive Sentiment: Cadence Design Systems expanded its collaboration with Intel Foundry to optimize Intel 14A for HPC and mobile designs, another sign that customers and partners are gaining confidence in Intel’s manufacturing roadmap. Article Title
• Positive Sentiment: Intel and Hitachi announced a strategic collaboration to accelerate physical AI and next-generation digital infrastructure, adding to the company’s AI-related momentum.
• Positive Sentiment: Several reports highlighted Intel as a potential “backup” manufacturer for Google and Nvidia, reinforcing the idea that major tech companies may diversify away from TSMC and lean on Intel’s foundry capacity.
• Neutral Sentiment: Intel’s short interest data showed no meaningful change in the reported figures, so this does not appear to be a real trading catalyst.
• Neutral Sentiment: Commentary pieces discussing Intel’s valuation, quantum strategy, and AI comeback story add to the bullish narrative, but they are mostly opinion-driven rather than hard new developments.
• Negative Sentiment: Semiconductor stocks broadly sold off today, with articles noting that chip shorts are piling in and that the semiconductor index may be entering a correction, which is weighing on Intel along with peers.
• Negative Sentiment: Some market commentary questioned the timing and certainty of the rumored Google/Nvidia foundry wins, which may be causing investors to fade part of the recent rally.

Analyst Ratings Changes

INTC has been the subject of a number of recent research reports. Scotiabank initiated coverage on Intel in a research report on Tuesday, April 21st. They set a "sector perform" rating for the company. Truist Financial boosted their price target on Intel from $49.00 to $81.00 and gave the stock a "hold" rating in a research report on Friday, April 24th. New Street Research upped their target price on Intel from $50.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Wall Street Zen downgraded Intel from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. Finally, Seaport Research Partners upped their price objective on Intel from $65.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-six have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Intel presently has a consensus rating of "Hold" and an average price target of $83.35.

Intel Price Performance

The stock has a 50 day moving average price of $89.57 and a two-hundred day moving average price of $59.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.85 and a current ratio of 2.31. The company has a market capitalization of $542.41 billion, a PE ratio of -174.06 and a beta of 2.21.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The chip maker reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.28. Intel had a positive return on equity of 0.39% and a negative net margin of 5.90%.The company had revenue of $13.58 billion during the quarter, compared to the consensus estimate of $12.32 billion. During the same period last year, the business earned $0.13 EPS. The business's quarterly revenue was up 7.4% on a year-over-year basis. Intel has set its Q2 2026 guidance at 0.200-0.200 EPS. Equities analysts forecast that Intel Corporation will post 0.63 earnings per share for the current year.

Insider Transactions at Intel

In other news, EVP Boise April Miller sold 40,256 shares of Intel stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $99.53, for a total transaction of $4,006,679.68. Following the sale, the executive vice president owned 105,077 shares of the company's stock, valued at approximately $10,458,313.81. This trade represents a 27.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by company insiders.

Institutional Trading of Intel

Several institutional investors have recently bought and sold shares of INTC. Vanguard Group Inc. boosted its holdings in Intel by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 404,522,308 shares of the chip maker's stock valued at $14,926,873,000 after acquiring an additional 13,692,624 shares during the last quarter. State Street Corp grew its position in shares of Intel by 2.8% during the 4th quarter. State Street Corp now owns 208,536,784 shares of the chip maker's stock worth $7,695,007,000 after buying an additional 5,714,400 shares during the period. Capital World Investors grew its position in shares of Intel by 20.3% during the 4th quarter. Capital World Investors now owns 104,060,268 shares of the chip maker's stock worth $3,839,833,000 after buying an additional 17,557,147 shares during the period. Geode Capital Management LLC grew its position in shares of Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 101,931,512 shares of the chip maker's stock worth $3,744,406,000 after buying an additional 3,124,798 shares during the period. Finally, Morgan Stanley grew its position in shares of Intel by 20.4% during the 4th quarter. Morgan Stanley now owns 65,249,269 shares of the chip maker's stock worth $2,407,698,000 after buying an additional 11,056,090 shares during the period. Institutional investors and hedge funds own 64.53% of the company's stock.

About Intel

Intel Corporation, founded in 1968 by Robert Noyce and Gordon E. Moore and headquartered in Santa Clara, California, is a leading global designer and manufacturer of semiconductor products. The company is historically notable for introducing the first commercial microprocessor and for driving the x86 architecture that underpins many personal computers and servers. Intel's core business spans the design, fabrication and marketing of processors, chipsets and related components for a wide range of computing applications.

Intel's product portfolio includes client and mobile processors marketed under brands such as Intel Core and Pentium, as well as high-performance Xeon processors for data centers and cloud infrastructure.

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