Intel (NASDAQ:INTC) Trading Down 6.3% – What’s Next?

Intel Co. (NASDAQ:INTC)’s share price was down 6.3% on Wednesday . The stock traded as low as $24.05 and last traded at $24.28. Approximately 52,576,300 shares changed hands during trading, a decline of 26% from the average daily volume of 71,351,314 shares. The stock had previously closed at $25.92.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on INTC shares. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, January 31st. UBS Group reduced their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Cantor Fitzgerald upped their price objective on shares of Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, February 18th. Roth Mkm reduced their target price on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company decreased their target price on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Four analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.04.

Intel Trading Down 1.4 %

The company has a 50 day simple moving average of $21.85 and a 200 day simple moving average of $21.96. The company has a market capitalization of $102.28 billion, a PE ratio of -5.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

Intel (NASDAQ:INTC) last issued 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 return on equity of 3.27% and a negative net margin of 35.32%. Analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Intel

Several hedge funds and other institutional investors have recently modified their holdings of the business. Finley Financial LLC purchased a new position in Intel in the 4th quarter worth approximately $25,000. Synergy Investment Management LLC acquired a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. Vermillion Wealth Management Inc. purchased a new position in Intel during the fourth quarter worth approximately $27,000. BankPlus Trust Department acquired a new position in Intel during the fourth quarter worth $28,000. Finally, Keystone Financial Group Inc. purchased a new stake in Intel in the 4th quarter valued at $29,000. 64.53% of the stock is owned by hedge funds and other 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.