Intel (NASDAQ:INTC) Shares Down 0.6% – Here’s Why

Intel Co. (NASDAQ:INTC) traded down 0.6% on Thursday . The company traded as low as $23.73 and last traded at $23.98. 24,689,587 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 71,619,613 shares. The stock had previously closed at $24.12.

Wall Street Analyst Weigh In

INTC has been the subject of several research analyst reports. Citigroup cut their target price on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Roth Mkm dropped their target price on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, January 31st. Finally, Truist Financial reduced their target price on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.04.

Intel Stock Performance

The stock has a market capitalization of $105.05 billion, a price-to-earnings ratio of -5.54 and a beta of 1.02. 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 firm has a 50-day moving average of $21.95 and a 200-day moving average of $21.98.

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

Institutional Inflows and Outflows

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