Published: Fri, October 21, 2016
Economy | By Melissa Porter

Intel Drops Most in Nine Months After Predicting Weaker Sales

Intel Corporation NASDAQ:INTC has a 50 day moving average of 36.66 Dollars and a 200 day moving average of 33.04 USD. Following the release of the earnings report, the stock was initially down 3.7% at $36.35 in the after-hours trading session. BlueFin Research restated a "buy" rating on shares of Intel a report on Monday, October 3rd.

Investors should note that on Sep 15, 2016, Intel Corporation announced a cash dividend of $0.2600.

Overall the ascent of the Intel share price looks to have hit a speed bump as the growth areas that Intel is aiming at aren't quite providing the desired sparkling results at this time. According to First Call, the consensus price target for the company is $40.47.

V shares are trading -1.60% below the 52-week high and has displayed a high EPS growth of 30.70% in last 5 years. (NASDAQ:INTC) opened at 35.94 on Wednesday.

After a -5.93% fall from previous close of US$37.75, Intel Corporation (INTC) has a US$167.93 Billion market cap. The stock stands 3.33% above the average-price of 50 days and -0.03% compared with the SMA 20.

Earnings of 80 cents per share came in seven cents higher than the Zacks Consensus Estimate and improved from the year-ago earnings of 66 cents. Overall company revenue will be $15.7 billion, plus or minus $500 million, the company predicted.

Intel Security Group revenue of $537 million, flat sequentially and up 6% from a year ago.

Each of the 28 covering analysts have also provided a Buy, Sell or Hold recommendation on the stock. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.93%. The Current Ratio was recorded at 1.70.

Stocks that Aren't in the News... The stock was sold at an average price of $34.69, for a total value of $15,440,345.55. The Hedge Fund company now holds 322,235 shares of INTC which is valued at $12,251,375. The stock was sold at an average price of $34.69, for a total transaction of $15,440,345.55. The disclosure for this sale can be found here. This number excludes 11 cents from non-recurring items. Global X Management Co.

Intel's third-quarter sales reached a record, lifted by processor orders from PC makers that made a decision to shore up their chip supplies ahead of the holiday shopping season. The company has grown 1.92% in past 3 months and in the last five trades has moved up 0.54%. The tax rate for the third quarter is expected to be 22 percent, as compared to the prior expectation of 21 percent. For the quarter, the stock has changed 6.57%. Proficio Capital Partners LLC raised its stake in shares of Intel 143.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,796,286 shares of the chip maker's stock worth $58,917,000 after buying an additional 89,568 shares in the last quarter.

The world's largest semiconductor maker also backed off an annual forecast for double-digit revenue growth in server chips for data centers and corporate networks, its most profitable business.

Like this: