Intel (NASDAQ:INTC) Stock Price Down 3.2% – What’s Next?

Intel Co. (NASDAQ:INTC) fell 3.2% during mid-day trading on Wednesday . The company traded as low as $23.36 and last traded at $23.44. 20,339,076 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 71,871,972 shares. The stock had previously closed at $24.20.

Analyst Ratings Changes

INTC has been the topic of several research analyst reports. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Truist Financial cut their target price on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Mizuho decreased their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.04.

Intel Price Performance

The stock has a market cap of $101.40 billion, a price-to-earnings ratio of -5.37 and a beta of 1.02. The company’s 50 day moving average is $22.15 and its 200 day moving average is $22.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last posted its quarterly 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 net margin of 35.32% and a negative return on equity of 3.27%. Research analysts forecast that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of Intel

A number of institutional investors have recently bought and sold shares of INTC. Vanguard Group Inc. raised its stake in shares of Intel by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after buying an additional 6,143,164 shares during the last quarter. State Street Corp increased its holdings in Intel by 2.8% during 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 acquiring an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC raised 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 acquiring an additional 2,978,346 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Intel by 8.2% in 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 valued at $1,268,430,000 after purchasing an additional 4,793,927 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Intel in the fourth quarter valued at approximately $1,246,569,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.