Intel (NASDAQ:INTC) Stock Price Down 2.8% - Here's What Happened

Shares of Intel Co. (NASDAQ:INTC - Get Free Report) dropped 2.8% on Monday . The company traded as low as $19.99 and last traded at $20.05. Approximately 21,350,765 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 97,763,070 shares. The stock had previously closed at $20.64.

Wall Street Analyst Weigh In

INTC has been the topic of several research reports. HSBC upgraded shares of Intel from a "reduce" rating to a "hold" rating in a research report on Tuesday, January 21st. Truist Financial reduced their target price on shares of Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a report on Friday, January 31st. Bank of America reaffirmed an "underperform" rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Roth Mkm reduced their price objective on Intel from $25.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Finally, Benchmark restated a "hold" rating on shares of Intel in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $26.88.

Intel Trading Down 0.8 %

The company has a market capitalization of $85.65 billion, a PE ratio of -4.52 and a beta of 1.02. 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 company's fifty day moving average is $21.29 and its 200-day moving average is $21.81.

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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%. On average, analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Institutional Trading of Intel

Hedge funds have recently modified their holdings of the company. Quest Partners LLC raised its stake in shares of Intel by 7,370.6% during the 3rd 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 in the last quarter. Finley Financial LLC purchased a new position in Intel in the fourth quarter worth $25,000. Vermillion Wealth Management Inc. acquired a new position in shares of Intel during the fourth quarter worth $27,000. Synergy Investment Management LLC purchased a new stake in shares of Intel during the 4th quarter valued at $27,000. Finally, BankPlus Trust Department acquired a new stake in shares of Intel in the 4th quarter worth $28,000. 64.53% of the stock is owned by hedge funds and other 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.