Intel (NASDAQ:INTC) Stock Price Down 3% – Here’s Why

Intel Co. (NASDAQ:INTC) shares dropped 3% on Thursday . The company traded as low as $24.48 and last traded at $24.95. Approximately 56,564,332 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 94,708,125 shares. The stock had previously closed at $25.72.

Analyst Upgrades and Downgrades

INTC has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a “sell” rating and issued a $20.00 price target on shares of Intel in a research report on Thursday, January 30th. Wells Fargo & Company cut their target price on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Mizuho lowered their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Northland Securities cut their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, January 31st. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.88.

Intel Stock Performance

The stock has a market capitalization of $107.67 billion, a P/E ratio of -5.68 and a beta of 1.08. The company’s fifty day simple moving average is $20.64 and its 200 day simple moving average is $21.59. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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, sell-side analysts forecast that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently bought and sold shares of INTC. Quest Partners LLC lifted its stake in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares during the last quarter. Finley Financial LLC purchased a new stake in Intel during the 4th quarter valued at about $25,000. Synergy Investment Management LLC bought a new position in Intel during the 4th quarter worth approximately $27,000. BankPlus Trust Department bought a new stake in Intel in the fourth quarter valued at approximately $28,000. Finally, Keystone Financial Group Inc. bought a new position in shares of Intel in the fourth quarter worth approximately $29,000. 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.