Intel (NASDAQ:INTC) Trading Down 1.4% – Here’s What Happened

Shares of Intel Co. (NASDAQ:INTC) dropped 1.4% on Friday . The stock traded as low as $19.03 and last traded at $19.11. Approximately 15,952,410 shares were traded during trading, a decline of 77% from the average daily volume of 69,256,430 shares. The stock had previously closed at $19.38.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INTC. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. UBS Group decreased their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Rosenblatt Securities reaffirmed a “sell” rating and issued a $20.00 target price on shares of Intel in a research report on Thursday, January 30th. The Goldman Sachs Group cut their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $22.00 price objective on shares of Intel in a report on Friday, January 31st. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.60.

Intel Stock Performance

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 $82.40 billion, a P/E ratio of -4.36, a price-to-earnings-growth ratio of 9.49 and a beta of 1.08. The company has a 50 day moving average price of $20.41 and a 200-day moving average price of $22.10.

Intel (NASDAQ:INTC) last issued its 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%. On average, equities analysts expect that Intel Co. will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intel

Several large investors have recently bought and sold shares of INTC. State Street Corp increased its position in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the period. Geode Capital Management LLC raised its position in shares of Intel by 4.6% in the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intel by 28.2% in 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 valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Van ECK Associates Corp boosted its position in shares of Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Intel by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock worth $680,472,000 after purchasing an additional 2,248,342 shares during the period. 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.