Intel (NASDAQ:INTC) Trading Down 6.3% – Here’s What Happened

Intel Co. (NASDAQ:INTC) traded down 6.3% during trading on Wednesday . The company traded as low as $24.05 and last traded at $24.28. 52,576,300 shares were traded during trading, a decline of 26% from the average session volume of 71,351,314 shares. The stock had previously closed at $25.92.

Wall Street Analysts Forecast Growth

INTC has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Truist Financial dropped their price objective on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Citigroup lowered their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Roth Mkm decreased their target price on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.04.

Intel Stock Down 6.3 %

The stock has a fifty day moving average price of $21.68 and a two-hundred day moving average price of $21.93. The firm has a market capitalization of $105.19 billion, a P/E ratio of -5.54 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 issued its 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%. Research analysts forecast that Intel Co. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Intel

Several institutional investors have recently made changes to their positions in INTC. 111 Capital acquired a new position in Intel during the 4th quarter valued at approximately $855,000. PKO Investment Management Joint Stock Co bought a new stake in Intel in the fourth quarter valued at $1,865,000. QSM Asset Management Ltd acquired a new position in shares of Intel during the fourth quarter valued at $7,011,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Intel during the fourth quarter valued at $70,850,000. Finally, Yoffe Investment Management LLC bought a new position in shares of Intel during the fourth quarter worth about $357,000. 64.53% of the stock is 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.