Intel (NASDAQ:INTC) Shares Down 1.6% - Here's What Happened

Intel Co. (NASDAQ:INTC - Get Free Report)'s stock price fell 1.6% during mid-day trading on Thursday . The company traded as low as $22.86 and last traded at $23.04. 16,990,229 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 71,954,839 shares. The stock had previously closed at $23.42.

Analyst Ratings Changes

A number of brokerages have recently commented on INTC. Roth Mkm dropped their price target on Intel from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Truist Financial lowered their price target on shares of Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, January 31st. Hsbc Global Res upgraded Intel from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, January 21st. HSBC upgraded Intel from a "reduce" rating to a "hold" rating in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Intel from $26.00 to $23.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $27.04.

Intel Stock Performance

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 business has a 50 day moving average price of $22.33 and a 200 day moving average price of $22.15. The stock has a market capitalization of $98.33 billion, a PE ratio of -5.18 and a beta of 1.02.

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Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly 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 net margin of 35.32% and a negative return on equity of 3.27%. As a group, equities research analysts expect that Intel Co. will post -0.11 earnings per share for the current year.

Institutional Trading of Intel

A number of large investors have recently made changes to their positions in INTC. Quest Partners LLC grew its holdings in shares of Intel by 7,370.6% in 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. Townsquare Capital LLC boosted its position in Intel by 2.7% in the third quarter. Townsquare Capital LLC now owns 61,109 shares of the chip maker's stock worth $1,434,000 after purchasing an additional 1,633 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Intel by 9.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,353,347 shares of the chip maker's stock valued at $31,853,000 after purchasing an additional 118,750 shares during the period. Icon Wealth Advisors LLC increased its position in shares of Intel by 8.8% during the 3rd quarter. Icon Wealth Advisors LLC now owns 49,736 shares of the chip maker's stock valued at $1,167,000 after purchasing an additional 4,019 shares during the last quarter. Finally, White Knight Strategic Wealth Advisors LLC bought a new position in shares of Intel in the 3rd quarter worth approximately $310,000. 64.53% of the stock is currently owned by institutional investors.

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.