Intel (NASDAQ:INTC) Trading Down 2.5%

Intel Co. (NASDAQ:INTC)’s share price dropped 2.5% during trading on Wednesday . The company traded as low as $29.81 and last traded at $29.90. Approximately 15,074,300 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 48,012,945 shares. The stock had previously closed at $30.68.

Analyst Ratings Changes

INTC has been the subject of several recent analyst reports. Susquehanna reduced their price objective on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Friday, April 26th. Wells Fargo & Company lowered their target price on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Stifel Nicolaus reissued a “hold” rating and set a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Finally, Wedbush reduced their target price on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research note on Friday, April 26th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.62.

Intel Price Performance

The firm has a market capitalization of $128.90 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 10.05 and a beta of 1.09. The stock’s 50 day simple moving average is $38.62 and its two-hundred day simple moving average is $41.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is presently 52.08%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger bought 4,100 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Patrick P. Gelsinger acquired 4,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at $1,108,340.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average price of $30.29 per share, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently made changes to their positions in the stock. New Millennium Group LLC grew its stake in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in Intel in the fourth quarter valued at approximately $27,000. Burkett Financial Services LLC purchased a new position in Intel in the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC acquired a new stake in Intel during the first quarter worth approximately $27,000. Finally, Raleigh Capital Management Inc. lifted its position in Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after acquiring an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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.