Intel (NASDAQ:INTC) Stock Price Down 2.8% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s stock price fell 2.8% during mid-day trading on Monday . The company traded as low as $19.99 and last traded at $20.05. 21,350,765 shares were traded during mid-day trading, a decline of 78% from the average session volume of 97,763,070 shares. The stock had previously closed at $20.64.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, January 31st. Roth Mkm cut their price target on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Citigroup decreased their price objective 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. Truist Financial dropped their target price on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Finally, Barclays lowered their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Intel has a consensus rating of “Hold” and an average price target of $26.88.

Intel Stock Down 3.4 %

The firm’s 50-day simple moving average is $21.30 and its 200 day simple moving average is $21.81. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The stock has a market capitalization of $86.30 billion, a P/E ratio of -4.55 and a beta of 1.02.

Intel (NASDAQ:INTC) last issued 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 net margin of 35.32% and a negative return on equity of 3.27%. As a group, research analysts expect that Intel Co. will post -0.11 EPS for the current year.

Institutional Trading of Intel

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Intel during the fourth quarter worth about $1,246,569,000. Two Sigma Advisers LP bought a new stake in shares of Intel during the fourth quarter worth approximately $289,752,000. Assenagon Asset Management S.A. grew its position in shares of Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after purchasing an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in Intel in the 4th quarter valued at $237,457,000. Institutional investors and hedge funds 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.