Intel (NASDAQ:INTC) Trading Down 0.5% – Here’s What Happened

Intel Co. (NASDAQ:INTC) shares dropped 0.5% during mid-day trading on Tuesday . The company traded as low as $21.12 and last traded at $21.27. Approximately 13,773,867 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 80,335,161 shares. The stock had previously closed at $21.38.

Analysts Set New Price Targets

INTC has been the subject of several recent analyst reports. Rosenblatt Securities decreased their price objective on shares of Intel from $18.00 to $14.00 and set a “sell” rating for the company in a report on Friday, April 25th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, April 25th. Barclays reissued a “reduce” rating on shares of Intel in a report on Tuesday, April 22nd. Sanford C. Bernstein decreased their target price on shares of Intel from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Finally, Mizuho dropped their price target on shares of Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.67.

Intel Stock Down 0.1%

The company has a market cap of $93.19 billion, a P/E ratio of -4.87 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $21.41 and a 200 day moving average price of $21.66.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.12. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The firm had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. During the same period in the previous year, the business earned $0.18 EPS. The company’s revenue was down .4% compared to the same quarter last year. Equities research analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in Intel by 33.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 13,906 shares of the chip maker’s stock valued at $279,000 after purchasing an additional 3,519 shares during the period. Merit Financial Group LLC boosted its stake in Intel by 22.6% during the 4th quarter. Merit Financial Group LLC now owns 66,736 shares of the chip maker’s stock valued at $1,338,000 after purchasing an additional 12,312 shares during the last quarter. Ameritas Advisory Services LLC raised its position in Intel by 365.1% in the fourth quarter. Ameritas Advisory Services LLC now owns 148,418 shares of the chip maker’s stock worth $2,976,000 after acquiring an additional 116,510 shares during the period. Krilogy Financial LLC bought a new position in Intel in the 4th quarter worth approximately $253,000. Finally, Aaron Wealth Advisors LLC boosted its stake in Intel by 3.1% during the fourth quarter. Aaron Wealth Advisors LLC now owns 20,595 shares of the chip maker’s stock worth $413,000 after buying an additional 611 shares during the period. 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.