Intel (NASDAQ:INTC) Stock Price Down 5% – Here’s Why

Intel Co. (NASDAQ:INTC) was down 5% on Tuesday . The company traded as low as $22.77 and last traded at $23.06. 39,781,946 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 96,116,773 shares. The stock had previously closed at $24.27.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Roth Mkm dropped their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Stifel Nicolaus dropped their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Citigroup decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company dropped their target price on 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, Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. 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 stock. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus price target of $26.88.

Intel Trading Down 3.6 %

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 has a market capitalization of $101.26 billion, a price-to-earnings ratio of -5.35 and a beta of 1.08. The business’s 50 day moving average price is $20.91 and its two-hundred day moving average price is $21.71.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INTC. Hennion & Walsh Asset Management Inc. boosted its holdings in Intel by 32.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,387 shares of the chip maker’s stock worth $244,000 after buying an additional 2,531 shares in the last quarter. Highland Capital Management LLC boosted its stake in shares of Intel by 7.6% during the 3rd quarter. Highland Capital Management LLC now owns 14,187 shares of the chip maker’s stock worth $333,000 after acquiring an additional 1,000 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Intel by 7.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,841,433 shares of the chip maker’s stock worth $66,583,000 after acquiring an additional 187,044 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of Intel by 26.6% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 27,944 shares of the chip maker’s stock worth $656,000 after acquiring an additional 5,869 shares during the last quarter. Finally, First Financial Bankshares Inc raised its position in shares of Intel by 2.7% during the third quarter. First Financial Bankshares Inc now owns 20,891 shares of the chip maker’s stock worth $490,000 after purchasing an additional 557 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

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.