Intel (NASDAQ:INTC) Shares Down 0.6% – Here’s What Happened

Intel Co. (NASDAQ:INTC) shares dropped 0.6% on Tuesday . The stock traded as low as $19.02 and last traded at $19.27. Approximately 15,180,679 shares changed hands during trading, a decline of 79% from the average daily volume of 71,067,953 shares. The stock had previously closed at $19.38.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on INTC shares. HSBC raised Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Truist Financial lowered their price objective on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Bank of America reaffirmed an “underperform” rating and set a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Roth Mkm lowered their price target on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. cut 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. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $26.60.

Intel Stock Down 1.4 %

The business’s 50 day moving average price is $20.50 and its 200-day moving average price is $22.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The firm has a market capitalization of $83.59 billion, a PE ratio of -4.42, a P/E/G ratio of 9.49 and a beta of 1.08.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) 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%. As a group, equities research analysts forecast that Intel Co. will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Intel

Several institutional investors have recently bought and sold shares of INTC. Finley Financial LLC acquired a new position in shares of Intel in the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC acquired a new position in shares of Intel in the fourth quarter worth $27,000. BankPlus Trust Department purchased a new stake in shares of Intel during the fourth quarter worth $28,000. Keystone Financial Group Inc. acquired a new stake in shares of Intel in the fourth quarter valued at $29,000. Finally, Quest Partners LLC boosted its holdings in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

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.