Intel (NASDAQ:INTC) Stock Price Down 3.6% - Here's What Happened

Intel Co. (NASDAQ:INTC - Get Free Report) traded down 3.6% on Wednesday . The stock traded as low as $20.49 and last traded at $20.56. 32,985,692 shares traded hands during trading, a decline of 66% from the average session volume of 97,783,758 shares. The stock had previously closed at $21.33.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Bank of America reiterated an "underperform" rating and set a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Wells Fargo & Company dropped their target price 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. Roth Mkm reduced their price target on shares of Intel from $25.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Rosenblatt Securities reiterated a "sell" rating and set a $20.00 price objective on shares of Intel in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. decreased 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. Five analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $26.88.

Intel Stock Performance

The stock has a market cap of $90.11 billion, a price-to-earnings ratio of -4.75 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. The company's 50 day simple moving average is $21.28 and its 200 day simple moving average is $21.82.

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

Hedge Funds Weigh In On Intel

Several large investors have recently made changes to their positions in INTC. Vanguard Group Inc. boosted its holdings in shares of Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock worth $7,400,439,000 after buying an additional 6,143,164 shares during the period. State Street Corp lifted its position in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Intel by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock worth $1,909,761,000 after purchasing an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Intel by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock worth $1,268,430,000 after purchasing an additional 4,793,927 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Intel in the fourth quarter worth approximately $1,246,569,000. Institutional investors 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.