Intel (NASDAQ:INTC) Shares Down 2.5% – Here’s Why

Shares of Intel Co. (NASDAQ:INTC) were down 2.5% on Friday . The stock traded as low as $25.39 and last traded at $25.45. Approximately 34,847,180 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 95,607,469 shares. The stock had previously closed at $26.09.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on INTC shares. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Mizuho dropped their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Barclays dropped their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Bank of America reiterated an “underperform” rating and issued a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Five investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.88.

Intel Stock Down 4.7 %

The company has a market cap of $107.67 billion, a price-to-earnings ratio of -5.68 and a beta of 1.08. 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 business has a fifty day moving average price of $20.84 and a two-hundred day moving average price of $21.66.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS 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 analysts predict that Intel Co. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Intel

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after buying an additional 6,143,164 shares in the last quarter. State Street Corp grew its stake in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC boosted its position in Intel by 3.2% during 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intel by 8.2% during 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 during the period. Finally, Norges Bank bought a new stake in Intel during the fourth quarter worth approximately $1,246,569,000. Institutional investors own 64.53% of the company’s stock.

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.