Intel Co. (NASDAQ:INTC) Sees Large Drop in Short Interest

Intel Co. (NASDAQ:INTC) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 108,570,000 shares, a decrease of 18.2% from the January 15th total of 132,690,000 shares. Based on an average daily trading volume, of 73,810,000 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analyst Weigh In

INTC has been the subject of several research reports. UBS Group dropped their price target on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. cut their price target on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Stifel Nicolaus decreased their price objective on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, January 31st. Finally, HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.60.

Institutional Trading of Intel

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares during the period. State Street Corp increased its position in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. Geode Capital Management LLC raised its stake in shares of Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock worth $1,909,761,000 after buying an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Intel by 8.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock valued at $1,268,430,000 after buying an additional 4,793,927 shares during the period. Finally, Norges Bank purchased a new stake in shares of Intel in the fourth quarter valued at approximately $1,246,569,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ INTC traded down $0.53 during midday trading on Monday, reaching $23.60. 229,644,185 shares of the company were exchanged, compared to its average volume of 71,431,504. The stock has a market cap of $102.19 billion, a P/E ratio of -5.39 and a beta of 1.08. Intel has a 1 year low of $18.51 and a 1 year high of $46.63. The stock has a fifty day simple moving average of $20.33 and a 200 day simple moving average of $21.55. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its earnings results 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 net margin of 35.32% and a negative return on equity of 3.27%. On average, research analysts forecast that Intel will post -0.11 earnings per share for the current fiscal year.

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.