Intel (NASDAQ:INTC) Stock Price Down 2.6% - What's Next?

Key Points

• Intel's stock price fell by 2.6% to $23.93, with trading volume down 40% from the average.
• Multiple analysts have reduced their target prices for Intel, with firms like Wedbush lowering it to $19.00 and Rosenblatt Securities setting a price target of $14.00.
• Intel missed earnings expectations, reporting a loss of ($0.10) EPS against a consensus estimate of $0.01, although revenue rose 0.5% year-over-year.

Shares of Intel Corporation (NASDAQ:INTC - Get Free Report) fell 2.6% during mid-day trading on Monday . The stock traded as low as $23.34 and last traded at $23.93. 57,824,728 shares were traded during trading, a decline of 40% from the average session volume of 95,968,523 shares. The stock had previously closed at $24.56.

Wall Street Analyst Weigh In

Several research firms have issued reports on INTC. Wedbush cut their target price on Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley decreased their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Wall Street Zen lowered Intel from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Sanford C. Bernstein decreased their price target on Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities reaffirmed a "sell" rating and set a $14.00 price target on shares of Intel in a report on Friday, July 25th. Six research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Intel presently has a consensus rating of "Hold" and an average target price of $22.17.

Intel Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.24. The company has a 50-day simple moving average of $21.81 and a 200-day simple moving average of $21.57. The company has a market cap of $103.97 billion, a price-to-earnings ratio of -4.99 and a beta of 1.22.

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

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTC. N.E.W. Advisory Services LLC purchased a new stake in shares of Intel during the 1st quarter worth approximately $25,000. HFM Investment Advisors LLC purchased a new stake in shares of Intel during the 1st quarter worth approximately $25,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Intel during the 4th quarter worth approximately $27,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Intel during the 1st quarter worth approximately $27,000. Finally, West Branch Capital LLC purchased a new stake in shares of Intel during the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds 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.

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