Intel (NASDAQ:INTC) Trading Down 3.6% – Here’s Why

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on INTC shares. Mizuho lowered their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Citigroup cut their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Bank of America reaffirmed an “underperform” rating and issued a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. UBS Group cut their price target on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut their target price on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.88.

Intel Trading Down 0.5 %

The company has a market capitalization of $89.37 billion, a P/E ratio of -4.71 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $21.29 and its 200 day moving average price is $21.81.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 return on equity of 3.27% and a negative net margin of 35.32%. As a group, equities research analysts predict that Intel Co. will post -0.11 earnings per share for the current year.

Institutional Trading of Intel

Several institutional investors have recently made changes to their positions in the company. Finley Financial LLC purchased a new position in Intel during the fourth quarter worth about $25,000. Synergy Investment Management LLC purchased a new position in shares of Intel in the 4th quarter worth approximately $27,000. Vermillion Wealth Management Inc. bought a new position in shares of Intel in the fourth quarter valued at approximately $27,000. BankPlus Trust Department bought a new position in shares of Intel in the fourth quarter valued at approximately $28,000. Finally, Keystone Financial Group Inc. bought a new stake in Intel during the fourth quarter worth $29,000. 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.