Intel (NASDAQ:INTC) Trading Down 8.3% - Here's What Happened

Intel Co. (NASDAQ:INTC - Get Free Report) fell 8.3% on Tuesday . The stock traded as low as $20.83 and last traded at $20.86. 61,027,674 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 96,948,617 shares. The stock had previously closed at $22.74.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INTC. Bank of America reiterated an "underperform" rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Benchmark reiterated a "hold" rating on shares of Intel in a report on Friday, January 31st. HSBC upgraded Intel from a "reduce" rating to a "hold" rating in a report on Tuesday, January 21st. 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 report on Friday, January 31st. Finally, Cantor Fitzgerald raised their price objective on Intel from $22.00 to $29.00 and gave the stock a "neutral" rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $26.88.

Intel Price Performance

The company has a market cap of $89.37 billion, a PE ratio of -4.71 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 stock has a 50 day moving average of $21.30 and a 200-day moving average of $21.80.

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Intel (NASDAQ:INTC - Get Free Report) last issued its 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 return on equity of 3.27% and a negative net margin of 35.32%. Equities analysts predict that Intel Co. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Intel

Institutional investors have recently modified their holdings of the stock. Finley Financial LLC purchased a new position in shares of Intel during the 4th quarter valued at about $25,000. Synergy Investment Management LLC purchased a new position in shares of Intel during the 4th quarter valued at about $27,000. Vermillion Wealth Management Inc. purchased a new position in shares of Intel during the 4th quarter valued at about $27,000. BankPlus Trust Department purchased a new position in shares of Intel during the 4th quarter valued at about $28,000. Finally, Keystone Financial Group Inc. purchased a new position in shares of Intel during the 4th quarter valued at about $29,000. Hedge funds and other 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.