Intel (NASDAQ:INTC) Stock Price Down 9.2% After Earnings Miss

Key Points

• Intel's stock fell by 9.2% after reporting a quarterly earnings miss, with an EPS of ($0.10) compared to the expected $0.01.
• The company reported revenue of $12.86 billion, slightly exceeding analyst estimates, but it continues to struggle with a negative net margin of 36.19%.
• Analysts have mixed ratings for Intel, with a consensus rating of "Hold" and an average target price of $22.25, indicating uncertainty about the stock's future.
• Institutional investors own 64.53% of Intel's stock, reflecting confidence among major investors despite recent performance challenges.

Intel Corporation (NASDAQ:INTC - Get Free Report) dropped 9.2% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $20.39 and last traded at $20.56. Approximately 113,483,579 shares changed hands during trading, an increase of 22% from the average daily volume of 92,984,008 shares. The stock had previously closed at $22.63.

The chip maker reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.11). The firm had revenue of $12.86 billion for the quarter, compared to analyst estimates of $11.88 billion. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.02 EPS.

Analyst Ratings Changes

A number of research firms have recently commented on INTC. Rosenblatt Securities reissued a "sell" rating and set a $14.00 target price on shares of Intel in a research note on Friday. UBS Group boosted their target price on shares of Intel from $21.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Loop Capital began coverage on shares of Intel in a research note on Monday. They set a "hold" rating and a $25.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Intel from $21.00 to $24.50 and gave the stock a "hold" rating in a research note on Monday. Finally, JPMorgan Chase & Co. cut their target price on shares of Intel from $23.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, April 25th. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Intel has a consensus rating of "Hold" and an average target price of $22.25.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. N.E.W. Advisory Services LLC acquired a new position in shares of Intel in the first quarter valued at approximately $25,000. HFM Investment Advisors LLC acquired a new position in shares of Intel in the first quarter valued at approximately $25,000. Vermillion Wealth Management Inc. acquired a new position in shares of Intel in the fourth quarter valued at approximately $27,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Intel in the first quarter valued at approximately $27,000. Finally, West Branch Capital LLC acquired a new position in shares of Intel in the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Stock Down 8.5%

The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The company has a market cap of $90.28 billion, a price-to-earnings ratio of -4.60 and a beta of 1.15. The firm's fifty day simple moving average is $21.66 and its 200 day simple moving average is $21.49.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.