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

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Key Points

  • Intel Corporation's shares fell 2.1%, trading at $19.92 with a significant drop in volume, down 74% from the average session.
  • Analysts have mixed ratings on Intel's stock, with a consensus rating of "Hold" and a price target of $22.30, with six analysts rating it as a sell.
  • Intel missed earnings expectations with a reported EPS of ($0.10), despite a 0.5% increase in revenue from the previous year.
  • MarketBeat previews top five stocks to own in September.
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Intel Corporation (NASDAQ:INTC - Get Free Report)'s share price fell 2.1% during mid-day trading on Thursday . The stock traded as low as $19.91 and last traded at $19.92. 24,609,990 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 93,302,047 shares. The stock had previously closed at $20.34.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INTC. JPMorgan Chase & Co. lifted their price target on shares of Intel from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Friday, July 25th. Needham & Company LLC restated a "hold" rating on shares of Intel in a research report on Friday, July 25th. Seaport Res Ptn upgraded shares of Intel to a "strong sell" rating in a research report on Wednesday, April 30th. Cfra Research upgraded shares of Intel to a "hold" rating in a research report on Friday, April 25th. Finally, Loop Capital began coverage on shares of Intel in a research report on Monday, July 21st. They issued a "hold" rating and a $25.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, twenty-six 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 has an average rating of "Hold" and a consensus price target of $22.30.

Get Our Latest Research Report on INTC

Intel Trading Down 2.2%

The business's 50-day moving average price is $21.59 and its 200 day moving average price is $21.51. The company has a market cap of $84.76 billion, a P/E ratio of -4.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.24.

Intel (NASDAQ:INTC - Get Free Report) last announced its earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.11). The company had revenue of $12.86 billion for the quarter, compared to the consensus estimate of $11.88 billion. Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. As a group, analysts expect that Intel Corporation will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Freestone Grove Partners LP acquired a new position in shares of Intel in the 4th quarter valued at approximately $62,654,000. Toronto Dominion Bank increased its position in Intel by 286.8% in the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock valued at $211,114,000 after acquiring an additional 7,806,882 shares during the period. 180 Wealth Advisors LLC increased its position in Intel by 124.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 127,916 shares of the chip maker's stock valued at $2,905,000 after acquiring an additional 71,049 shares during the period. Alteri Wealth LLC acquired a new stake in shares of Intel during the fourth quarter worth $2,379,000. Finally, Gordian Capital Singapore Pte Ltd increased its position in shares of Intel by 120.7% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 64,000 shares of the chip maker's stock worth $1,282,000 after buying an additional 35,000 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

About Intel

(Get Free Report)

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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