Intel (NASDAQ:INTC) Shares Down 6.1% - Here's What Happened

Intel Co. (NASDAQ:INTC - Get Free Report) shares dropped 6.1% on Thursday . The company traded as low as $19.85 and last traded at $20.21. Approximately 39,520,931 shares changed hands during trading, a decline of 49% from the average daily volume of 77,124,208 shares. The stock had previously closed at $21.53.

Analysts Set New Price Targets

Several research analysts recently weighed in on INTC shares. Hsbc Global Res upgraded Intel from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, January 21st. Barclays reduced their price target on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald boosted their price target on shares of Intel from $22.00 to $29.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on shares of Intel from $28.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. Finally, Roth Mkm cut their price objective on shares of Intel from $25.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.58.

Intel Price Performance

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 50 day simple moving average of $22.37 and a 200-day simple moving average of $22.09. The firm has a market cap of $86.08 billion, a PE ratio of -4.51 and a beta of 1.13.

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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 for the quarter, missing the consensus estimate 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 analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Finley Financial LLC purchased a new position in Intel in the 4th quarter valued at about $25,000. Synergy Investment Management LLC acquired a new position in shares of Intel in the fourth quarter valued at approximately $27,000. Vermillion Wealth Management Inc. purchased a new position in shares of Intel during the fourth quarter valued at approximately $27,000. BankPlus Trust Department acquired a new stake in Intel during the fourth quarter worth approximately $28,000. Finally, Keystone Financial Group Inc. purchased a new stake in Intel in the 4th quarter worth approximately $29,000. 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.