Intel (NASDAQ:INTC) Shares Down 2.2% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s stock price fell 2.2% on Monday . The company traded as low as $22.86 and last traded at $23.60. 229,644,185 shares traded hands during trading, an increase of 221% from the average session volume of 71,431,504 shares. The stock had previously closed at $24.13.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INTC. Robert W. Baird increased their target price on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Stifel Nicolaus cut their price objective on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Rosenblatt Securities restated a “sell” rating and issued a $20.00 price objective on shares of Intel in a research report on Thursday, January 30th. Finally, Citigroup cut their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $26.60.

Intel Price Performance

The stock has a market capitalization of $102.19 billion, a PE ratio of -5.39 and a beta of 1.08. The firm’s 50 day simple moving average is $20.33 and its 200 day simple moving average is $21.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last posted its quarterly earnings results 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 return on equity of 3.27% and a negative net margin of 35.32%. As a group, equities analysts forecast 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 added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its holdings in Intel by 211.6% during the 4th 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. raised its holdings in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after buying an additional 204,200 shares during the last quarter. Empirical Asset Management LLC bought a new stake in Intel during the 4th quarter valued at $276,000. Finally, Swiss National Bank raised its holdings in Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

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.