Intel (NASDAQ:INTC) Trading Down 3.6% – Here’s What Happened

Intel Co. (NASDAQ:INTC) shares fell 3.6% on Friday . The stock traded as low as $22.56 and last traded at $22.77. 18,848,134 shares changed hands during trading, a decline of 74% from the average session volume of 71,998,265 shares. The stock had previously closed at $23.62.

Analysts Set New Price Targets

Several analysts have commented on the stock. Mizuho decreased their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Barclays decreased their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Rosenblatt Securities restated a “sell” rating and set a $20.00 price target on shares of Intel in a report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report 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. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.04.

Intel Stock Down 3.7 %

The stock has a market cap of $98.49 billion, a PE ratio of -5.19 and a beta of 1.02. The business has a 50 day moving average price of $22.30 and a 200 day moving average price of $22.10. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

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 return on equity of 3.27% and a negative net margin of 35.32%. Equities research analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

Institutional Trading of Intel

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