Intel (NASDAQ:INTC) Shares Down 3.6% – Time to Sell?

Intel Co. (NASDAQ:INTC)’s share price was down 3.6% on Friday . The company traded as low as $22.56 and last traded at $22.77. Approximately 18,848,134 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 71,998,265 shares. The stock had previously closed at $23.62.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INTC shares. Bank of America upgraded shares of Intel from an “underperform” rating to a “neutral” rating and raised their target price for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Barclays dropped their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Rosenblatt Securities reiterated a “sell” rating and set a $20.00 price target on shares of Intel in a report on Thursday, January 30th. Mizuho dropped their target price on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.04.

Intel Price Performance

The company has a 50-day moving average price of $22.33 and a 200-day moving average price of $22.15. The firm has a market capitalization of $98.33 billion, a P/E ratio of -5.18 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 released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. On average, sell-side analysts predict that Intel Co. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Intel

Large investors have recently modified their holdings of the business. Quest Partners LLC increased its stake in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares in the last quarter. Finley Financial LLC bought a new stake in shares of Intel in the fourth quarter valued at about $25,000. Vermillion Wealth Management Inc. acquired a new position in shares of Intel during the fourth quarter worth about $27,000. Synergy Investment Management LLC bought a new position in shares of Intel during the fourth quarter worth about $27,000. Finally, BankPlus Trust Department acquired a new stake in Intel in the 4th quarter valued at approximately $28,000. 64.53% of the stock is currently owned by 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.