Intel Co. Stock, traded on NASDAQ under the symbol INTC, experienced a 0.6% decrease during midday trading on Monday. The stock was trading at $30.83 and last traded at $30.89, with a total of 6,206,979 shares changing hands. This volume was significantly lower than the average session volume of 47,019,059 shares. The stock had previously closed at $31.09.
Analysts have made several changes to their ratings of INTC. Goldman Sachs Group lowered their price target from $34.00 to $30.00 and gave the company a “sell” rating. Wedbush also reduced their price target, from $40.00 to $32.50, and assigned a “neutral” rating. The company currently has a consensus rating of “Hold” and a consensus price target of $39.58.
Intel shares fell by 1.6% recently. The stock’s 50-day simple moving average is $31.57 and its two-hundred-day simple moving average is $39.91. Intel has a market capitalization of $130.26 billion, a P/E ratio of 32.18, and a beta of 1.06. The company’s recent earnings report showed a lower-than-expected EPS of ($0.06) and revenue of $12.72 billion for the quarter.
Additionally, Intel announced a quarterly dividend, with investors receiving a dividend of $0.125 on June 1. The ex-dividend date was May 6, and the annualized dividend yield is 1.63%. The company’s payout ratio is currently 52.08%.
In terms of internal transactions, CEO Patrick Gelsinger purchased shares of the company’s stock in multiple transactions in May. Also, institutional investors have made changes to their positions in INTC, with some increasing their holdings and others acquiring new positions.
Intel Corporation operates through various segments and offers a range of computing and related products and services globally. The company’s product portfolio includes CPUs, chipsets, SoCs, mobile and desktop processors, hardware products, memory and storage solutions, and networking products.
This article was generated using narrative science technology and financial data from MarketBeat for providing accurate and timely reporting. If you are interested in finding out more about top-rated analyst recommendations, you can access MarketBeat’s list of recommended stocks for 2024.
In conclusion, Intel’s stock experienced a decline in trading, with analysts making adjustments to their ratings and price targets. The company’s recent financial performance and internal transactions, like CEO stock purchases, indicate ongoing developments within the company.
Article Source
https://www.marketbeat.com/instant-alerts/nasdaq-intc-percent-decline-2024-06-24/
