Intel (NASDAQ:INTC) Trading Down 5.4% – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) traded down 5.4% during mid-day trading on Wednesday . The company traded as low as $25.46 and last traded at $25.91. 74,175,311 shares traded hands during trading, a decline of 21% from the average session volume of 93,443,813 shares. The stock had previously closed at $27.39.

Wall Street Analyst Weigh In

Several brokerages recently commented on INTC. Robert W. Baird increased their price objective on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. cut their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. UBS Group lowered their target price on Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Stifel Nicolaus dropped their target price on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Finally, Citigroup lowered their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Five equities research 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.88.

Intel Stock Down 5.8 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The firm’s fifty day moving average price is $20.53 and its two-hundred day moving average price is $21.56. The stock has a market cap of $111.70 billion, a price-to-earnings ratio of -5.90 and a beta of 1.08.

Intel (NASDAQ:INTC) last posted its quarterly earnings results 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 return on equity of 3.27% and a negative net margin of 35.32%. Sell-side analysts forecast that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its holdings in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after purchasing an additional 19,625 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Intel by 4.4% in the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Empirical Asset Management LLC bought a new position in shares of Intel in the fourth quarter valued at approximately $276,000. Finally, Swiss National Bank boosted its position in shares of Intel by 0.3% during the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.