Intel (NASDAQ:INTC) Stock Price Down 7.9% – Time to Sell?

Intel Co. (NASDAQ:INTC) shares dropped 7.9% during mid-day trading on Friday . The stock traded as low as $20.02 and last traded at $20.66. Approximately 63,218,261 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 75,468,788 shares. The stock had previously closed at $22.43.

Analyst Ratings Changes

Several analysts recently commented on the stock. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and increased their target price for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Roth Mkm cut their price objective on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research 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 report on Friday, January 31st. JPMorgan Chase & Co. decreased their price target on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Finally, Rosenblatt Securities restated a “sell” rating and set a $20.00 price objective on shares of Intel in a report on Thursday, January 30th. Four research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.58.

Intel Trading Down 11.5 %

The company has a fifty day simple moving average of $22.36 and a two-hundred day simple moving average of $22.20. The company has a market capitalization of $86.56 billion, a P/E ratio of -4.53 and a beta of 1.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, analysts forecast that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.