Stocks

Intel (NASDAQ:INTC) Stock Price Down 1.7% - Time to Sell?

Published November 29, 2024

Intel Co. (NASDAQ:INTC - Get Free Report) saw a decline of 1.7% in its share price during mid-day trading on Thursday. The stock dipped as low as $23.06 before recovering slightly to last trade at $23.65. In total, around 53,858,621 shares were exchanged during this period, which is a 10% decrease compared to the average daily volume of 60,066,496 shares. The previous close for the stock was $24.05.

Analyst Ratings Changes

Several investment analysts have provided insights regarding Intel's stock. Needham & Company LLC reiterated a “hold” rating on the shares as of November 1st. Conversely, HSBC downgraded the stock from “hold” to “reduce” on August 2nd, and Raymond James lowered its rating from “outperform” to “market perform” the same day. UBS Group also decreased its price target for Intel from $37.00 to $32.00 while maintaining a “neutral” rating. Additionally, New Street Research revised their rating from “buy” to “neutral.” Currently, six analysts recommend selling the stock, while twenty-five suggest holding it, and only one has a buy rating. According to MarketBeat.com, Intel’s stock has an average rating of “Hold” and a consensus price target of $30.12.

Intel Stock Down 1.7%

Intel retains a quick ratio of 0.97 and a current ratio of 1.31, with a modest debt-to-equity ratio of 0.44. The company’s market capitalization stands at $102 billion, and it has a negative PE ratio of -6.36. The stock has fluctuated around its fifty-day moving average of $23.38 and its 200-day moving average of $25.99.

Intel disclosed its quarterly earnings results on October 31st, reporting an earnings per share (EPS) of ($0.46), which missed the analysts' expectations of ($0.02) by ($0.44). The company achieved a revenue of $13.30 billion for the quarter, exceeding the anticipated $13.02 billion. Despite this, Intel reported a return on equity of -1.71% and a net margin of -29.42%. The recent quarter saw a 6.3% year-over-year decline in revenue, a stark contrast to the previous year when it reported an EPS of $0.28. Analysts project that Intel will register an EPS of -0.87 for the current fiscal year.

Insider Activity

In recent developments, Executive Vice President Michelle Johnston Holthaus sold 25,000 shares of Intel stock on November 7th at an average price of $26.00, resulting in a total transaction value of $650,000. Following the sale, Holthaus holds around 273,258 shares of Intel, valued at approximately $7,104,708, marking an 8.38% decrease in her holdings. This transaction was formally disclosed in a report filed with the SEC.

Hedge Funds Weigh In On Intel

Institutional investors have been active in buying and selling Intel shares recently. For instance, Janus Henderson Group PLC raised its stake in Intel by 14.9% during the first quarter, now owning 473,056 shares worth about $20.89 million after acquiring an additional 61,516 shares. Austin Wealth Management LLC also made a new purchase worth $290,000 during the same quarter. Redwood Grove Capital LLC increased its position by 6.0%, now holding 203,325 shares valued at approximately $8.98 million. Furthermore, Cetera Investment Advisers boosted its share ownership by 262.9%, reaching a total of 787,130 shares worth $34.77 million. Institutional investors currently hold 64.53% of Intel's stock.

Intel Company Profile

Intel Corporation specializes in designing, developing, manufacturing, marketing, and selling computing and related products and services globally. Its operations are divided into several segments including the Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. The company offers a diverse range of products, which includes central processing units, chipsets, system-on-chips, graphics processing units, domain-specific accelerators, field programmable gate arrays, memory and storage solutions, as well as networking and connectivity components.