Intel (NASDAQ:INTC) Stock Price Down 2.1% – Time to Sell?

Intel Corporation (NASDAQ:INTC) shares fell 2.1% on Tuesday. The stock traded as low as $56.85 and last traded at $58.13. 98,217,515 shares traded hands during trading, a decline of 18% from the average session volume of 119,145,406 shares. The stock had previously closed at $59.37.

Key Stories Impacting Intel

Here are a few of the latest stories about INTC:

• Positive Sentiment: Potential demand from hyperscalers for Intel server CPUs could support earnings growth over time, offering a counterweight to near-term weakness in its PC business. Article: Prediction: This Will Be Intel’s Stock Price After 1 Year
• Neutral Sentiment: Intel Korea and Panmnesia agreed to work together to advance CXL technology for AI data centers. The collaboration could expand Intel’s role in AI infrastructure, but it is at an early stage. Article: Panmnesia to Accelerate CXL Server Adoption in AI Data Centers
• Negative Sentiment: Intel’s CEO described a potential “healthy pullback” in AI and urged investor discipline. That caution may add to worries about elevated AI expectations and near-term chip-sector volatility. Article: Intel CEO Sees a Healthy Pullback Ahead in the AI Boom

Analysts Set New Price Targets

Several brokerages have recently issued reports on INTC. DA Davidson decreased their price objective on Intel from $100.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Northland Securities set a $93.00 target price on Intel in a report on Friday, October 30th. Barclays upgraded Intel from a “hold” rating to an “overweight” rating in a research report on Wednesday, September 16th. Truist Financial decreased their price target on Intel from $108.00 to $72.00 and set a “hold” rating for the company in a report on Friday, October 30th. Finally, National Bank Financial set a $85.00 price objective on Intel in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twenty-eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $96.93.

Intel Trading Down 2.1%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.95 and a current ratio of 2.31. The firm has a market capitalization of $325.28 billion, a price-to-earnings ratio of -25.39, a P/E/G ratio of 6.22 and a beta of 2.42. The company has a 50 day moving average price of $96.19 and a two-hundred day moving average price of $86.73.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 29th. The chip maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.11. The firm had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $16.56 billion. Intel had a negative net margin of 20.09% and a positive return on equity of 4.70%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. On average, research analysts forecast that Intel Corporation will post 1.04 EPS for the current year.

Insider Activity

In related news, CEO Lip Tan bought 150,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was acquired at an average price of $64.73 per share, with a total value of $9,709,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,464,669 shares of the company’s stock, valued at approximately $94,808,024.37. This trade represents a 11.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA purchased a new stake in shares of Intel during the second quarter worth approximately $10,507,291,000. Legal & General Group Plc purchased a new position in Intel in the 2nd quarter valued at $4,096,110,000. Assenagon Asset Management S.A. lifted its holdings in Intel by 87.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 30,214,769 shares of the chip maker’s stock valued at $3,632,722,000 after purchasing an additional 14,063,302 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Intel in the 2nd quarter valued at $1,848,438,000. Finally, Bank of America Corp DE boosted its stake in Intel by 35.7% during the 2nd quarter. Bank of America Corp DE now owns 31,724,362 shares of the chip maker’s stock worth $4,429,673,000 after purchasing an additional 8,342,514 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

About Intel

Intel Corporation is a semiconductor company that designs and manufactures processors and related technologies. Its products include central processing units for personal computers and servers, graphics and AI accelerators, and platforms and components for data center, networking, and edge computing applications. The company also operates Intel Foundry, which provides semiconductor manufacturing, packaging, and related services for Intel and external customers. Intel serves customers and businesses around the world through its products, technologies, and manufacturing operations.