Intel (NASDAQ:INTC) Shares Down 1.6% – Here’s What Happened

Intel Co. (NASDAQ:INTC) was down 1.6% on Thursday . The company traded as low as $22.86 and last traded at $23.04. Approximately 16,990,229 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 71,954,839 shares. The stock had previously closed at $23.42.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INTC shares. Citigroup dropped their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, January 31st. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Roth Mkm dropped their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their target price on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Intel has an average rating of “Hold” and an average price target of $27.04.

Intel Trading Down 3.9 %

The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a market cap of $98.33 billion, a PE ratio of -5.18 and a beta of 1.02. The stock has a 50 day moving average price of $22.33 and a 200 day moving average price of $22.12.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Sell-side analysts predict that Intel Co. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Intel

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC boosted its position in shares of Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after buying an additional 19,625 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after buying an additional 204,200 shares in the last quarter. Empirical Asset Management LLC purchased a new position in Intel in the 4th quarter worth about $276,000. Finally, InvesTrust bought a new position in Intel during the 4th quarter valued at about $3,696,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.