Intel (NASDAQ:INTC) Stock Price Down 0.6% – Time to Sell?

Intel Co. (NASDAQ:INTC)’s stock price dropped 0.6% on Thursday . The stock traded as low as $23.73 and last traded at $23.98. Approximately 24,689,587 shares traded hands during trading, a decline of 66% from the average daily volume of 71,619,613 shares. The stock had previously closed at $24.12.

Wall Street Analysts Forecast Growth

INTC has been the topic of several analyst reports. Barclays lowered their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. lowered their target price on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $19.00 to $25.00 in a report on Thursday, March 13th. Finally, Cantor Fitzgerald upped their price target on shares of Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, February 18th. Four analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus price target of $27.04.

Intel Stock Down 0.9 %

The company’s 50-day moving average is $21.77 and its 200 day moving average is $21.95. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $103.47 billion, a PE ratio of -5.47 and a beta of 1.02.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) 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%. As a group, analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC grew its holdings in Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares during the period. Prospera Financial Services Inc lifted its stake in Intel by 1.7% in the 3rd quarter. Prospera Financial Services Inc now owns 67,281 shares of the chip maker’s stock valued at $1,579,000 after buying an additional 1,135 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intel in the third quarter worth approximately $6,698,000. Premier Fund Managers Ltd boosted its stake in Intel by 62.3% during the 3rd quarter. Premier Fund Managers Ltd now owns 248,678 shares of the chip maker’s stock worth $5,942,000 after purchasing an additional 95,429 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in Intel during the 3rd quarter valued at about $64,000. 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.