Intel (NASDAQ:INTC) Shares Down 6.3% - Here's Why

Intel Co. (NASDAQ:INTC - Get Free Report)'s stock price was down 6.3% during trading on Wednesday . The stock traded as low as $24.05 and last traded at $24.28. Approximately 52,576,300 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 71,351,314 shares. The stock had previously closed at $25.92.

Analysts Set New Price Targets

Several analysts recently issued reports on INTC shares. Cantor Fitzgerald increased their price target on shares of Intel from $22.00 to $29.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 18th. HSBC raised Intel from a "reduce" rating to a "hold" rating in a report on Tuesday, January 21st. Stifel Nicolaus lowered their price target on Intel from $25.00 to $21.00 and set a "hold" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on Intel from $26.00 to $23.00 and set an "underweight" rating on the stock in a research note on Friday, January 31st. Finally, Citigroup lowered their target price on Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, January 21st. Four equities 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 company has a consensus rating of "Hold" and a consensus price target of $27.04.

Intel Stock Performance

The company's 50-day moving average price is $22.05 and its two-hundred day moving average price is $22.04. The company has a market capitalization of $104.87 billion, a price-to-earnings ratio of -5.53 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.

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Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) 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, equities research analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Intel

A number of hedge funds have recently added to or reduced their stakes in INTC. Quest Partners LLC increased its stake in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker's stock valued at $30,000 after acquiring an additional 1,253 shares in the last quarter. Finley Financial LLC acquired a new stake in Intel in the fourth quarter worth $25,000. Vermillion Wealth Management Inc. bought a new stake in Intel in the fourth quarter valued at $27,000. Synergy Investment Management LLC acquired a new position in shares of Intel during the fourth quarter valued at about $27,000. Finally, BankPlus Trust Department bought a new position in shares of Intel during the 4th quarter worth about $28,000. 64.53% of the stock is currently owned by 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.