Intel (NASDAQ:INTC) Stock Price Down 6.1% – Here’s Why

Intel Co. (NASDAQ:INTC) shares fell 6.1% during mid-day trading on Thursday . The stock traded as low as $19.85 and last traded at $20.21. 39,520,931 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 77,124,208 shares. The stock had previously closed at $21.53.

Analyst Ratings Changes

Several brokerages recently commented on INTC. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price objective on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Truist Financial cut their target price on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, January 31st. Finally, Citigroup dropped their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.58.

Intel Stock Performance

The firm has a 50 day moving average of $22.35 and a 200-day moving average of $22.14. The company has a market cap of $86.84 billion, a P/E ratio of -4.54 and a beta of 1.13. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced 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, sell-side analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Intel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Finley Financial LLC acquired a new stake in shares of Intel in the 4th quarter worth $25,000. Synergy Investment Management LLC purchased a new stake in shares of Intel during the fourth quarter worth about $27,000. Vermillion Wealth Management Inc. acquired a new position in shares of Intel during the fourth quarter valued at about $27,000. BankPlus Trust Department acquired a new stake in Intel in the 4th quarter worth approximately $28,000. Finally, Keystone Financial Group Inc. purchased a new stake in Intel during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Company Profile

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.