Intel (NASDAQ:INTC) Stock Price Down 0.6% – Here’s Why

Intel Co. (NASDAQ:INTC)’s share price dropped 0.6% during mid-day trading on Thursday . The company traded as low as $23.73 and last traded at $23.98. Approximately 24,689,587 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 71,619,613 shares. The stock had previously closed at $24.12.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of research reports. Roth Mkm cut their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Citigroup cut their price target on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Stifel Nicolaus cut their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $20.00 price target on shares of Intel in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.04.

Intel Stock Performance

The firm has a market capitalization of $103.47 billion, a P/E ratio of -5.47 and a beta of 1.02. 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 business’s 50 day simple moving average is $21.77 and its two-hundred day simple moving average is $21.95.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Institutional Trading of Intel

A number of large investors have recently made changes to their positions in INTC. Quest Partners LLC grew its position in Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares during the period. Prospera Financial Services Inc grew its position in Intel by 1.7% during the third quarter. Prospera Financial Services Inc now owns 67,281 shares of the chip maker’s stock valued at $1,579,000 after buying an additional 1,135 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intel during the third quarter valued at approximately $6,698,000. Premier Fund Managers Ltd grew its position in Intel by 62.3% during the third quarter. Premier Fund Managers Ltd now owns 248,678 shares of the chip maker’s stock valued at $5,942,000 after buying an additional 95,429 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in Intel during the third quarter valued at approximately $64,000. 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.