SANTA CLARA, CA – Shares of semiconductor giant Intel Corporation (NASDAQ: INTC) experienced a sharp sell-off in early trading today, dropping more than 5% on exceptionally heavy volume. The dramatic plunge has pushed the stock price to a level that aligns closely with Wall Street’s consensus price targets.
As of 10:22 AM EDT, INTC stock was trading at $21.54, down $1.31, representing a significant loss of 5.73%. The stock gapped down at the open to $22.53 from a previous close of $22.85 and continued its steep decline. The selling pressure was intense, as evidenced by the massive trading volume. In just over an hour of trading, more than 41 million shares had changed hands, nearly half of its average daily volume of 92 million.
While the sharp drop reflects significant negative sentiment, one key data point offers a crucial perspective for investors: the 1-year analyst target estimate is $21.29. The current trading price, while down significantly, is holding just above this consensus target. This could suggest that while investors are selling, the stock is approaching a level that many analysts consider to be its fair value for the coming year, which may provide a technical support level.
The negative sentiment may be fueled by the company’s recent performance metrics. The data shows a negative Earnings Per Share (EPS) of -$4.48 over the trailing twelve months, indicating a lack of profitability. Furthermore, the company is not currently offering a forward dividend.
Despite the downturn, Intel remains a massive player in the industry with an intraday market capitalization of over $94 billion. Investors will now be watching closely to see if the stock can stabilize and hold support around the analyst target price or if further downside is ahead.
Frequently Asked Questions (FAQ) about Intel (INTC) Stock
Here are answers to common questions based on the provided market data.
1. What is the current stock price for Intel?
As of 10:22:14 AM EDT, the stock price for Intel Corporation (INTC) was $21.54.
2. How much did Intel stock drop today?
The stock was down $1.31, which is a significant decrease of 5.73%.
3. What is the stock ticker for Intel Corporation?
The ticker symbol is INTC, and it trades on the Nasdaq stock exchange.
4. What is the 1-year analyst target price for Intel?
The 1-year target estimate for INTC stock is $21.29.
5. How does the current price compare to the analyst target?
The current price of $21.54 is trading just slightly above the 1-year analyst target estimate, which may act as a support level.
6. What is the day’s trading range for INTC?
The trading range for the day has been between $21.52 and $22.77.
7. What is the 52-week price range for Intel stock?
The 52-week range is $17.67 to $37.16.
8. How is the trading volume for Intel today?
The volume is very high. Over 41 million shares were traded in the first hour, which is nearly half of the average daily volume of 92,295,154 shares.
9. What is Intel’s market capitalization?
The intraday market cap is approximately $94.258 billion.
10. Is Intel currently profitable?
No. According to the data, the company has a negative Earnings Per Share (EPS TTM) of -$4.48, indicating it has lost money over the last twelve months.
11. Does Intel pay a dividend?
The “Forward Dividend & Yield” field is marked with a dash, indicating that the company is not currently paying a forward dividend.
12. When was the last ex-dividend date?
The last ex-dividend date listed was August 7, 2024.
13. What is Intel’s stock beta?
The 5-year monthly beta is 1.11, which suggests the stock is slightly more volatile than the overall market.
