Intel (NASDAQ:INTC) Trading Down 8.3% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price traded down 8.3% during trading on Tuesday . The company traded as low as $20.83 and last traded at $20.86. 61,027,674 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 96,948,617 shares. The stock had previously closed at $22.74.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group reduced their target price on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Bank of America restated an “underperform” rating and issued a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Citigroup reduced their target price on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Barclays cut their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.88.

Intel Price Performance

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 market capitalization of $92.36 billion, a PE ratio of -4.87 and a beta of 1.02. The company has a fifty day moving average price of $21.26 and a two-hundred day moving average price of $21.82.

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

Institutional Trading of Intel

Several hedge funds have recently modified their holdings of the business. QSM Asset Management Ltd acquired a new stake in shares of Intel in the 4th quarter valued at approximately $7,011,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Intel in the 4th quarter valued at approximately $70,850,000. Yoffe Investment Management LLC acquired a new stake in shares of Intel in the 4th quarter valued at approximately $357,000. Lakeshore Capital Group Inc. purchased a new position in Intel in the 4th quarter valued at approximately $230,000. Finally, Ameriflex Group Inc. purchased a new position in Intel in the 4th quarter valued at approximately $139,000. 64.53% of the stock is owned by institutional investors and hedge funds.

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.