Intel (NASDAQ:INTC) Trading Down 3.6% – Here’s Why

Intel Co. (NASDAQ:INTC) shares fell 3.6% during trading on Wednesday . The company traded as low as $20.49 and last traded at $20.56. 32,985,692 shares changed hands during trading, a decline of 66% from the average session volume of 97,783,758 shares. The stock had previously closed at $21.33.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTC. Bank of America reaffirmed an “underperform” rating and issued a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Cantor Fitzgerald lifted their price target on shares of Intel from $22.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 18th. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Stifel Nicolaus cut their price target on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Finally, Mizuho lowered their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Five investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.88.

Intel Stock Down 4.7 %

The firm’s 50 day simple moving average is $21.28 and its 200 day simple moving average is $21.82. The company has a market cap of $88.01 billion, a price-to-earnings ratio of -4.64 and a beta of 1.02. 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 posted 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 net margin of 35.32% and a negative return on equity of 3.27%. Sell-side analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Intel

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Advisory LLC boosted its holdings in Intel by 4.3% in the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker’s stock worth $198,000 after buying an additional 409 shares during the period. Evergreen Capital Management LLC boosted its holdings in shares of Intel by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker’s stock worth $840,000 after acquiring an additional 419 shares during the period. Dunhill Financial LLC grew its position in shares of Intel by 22.6% in the third quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock valued at $56,000 after purchasing an additional 438 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Intel by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker’s stock valued at $3,263,000 after purchasing an additional 456 shares during the period. Finally, Beaton Management Co. Inc. raised its stake in shares of Intel by 2.2% during the 3rd quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock valued at $544,000 after purchasing an additional 500 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.