Intel (NASDAQ:INTC) Shares Down 4.8% – Here’s Why

Intel Co. (NASDAQ:INTC)’s stock price traded down 4.8% during mid-day trading on Wednesday . The company traded as low as $20.82 and last traded at $21.02. 49,353,469 shares changed hands during trading, a decline of 40% from the average session volume of 82,500,306 shares. The stock had previously closed at $22.08.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INTC shares. Cantor Fitzgerald reduced their price target on Intel from $29.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, April 25th. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, April 25th. Wedbush dropped their price target on Intel from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Intel from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, April 25th. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.57.

Intel Price Performance

The company has a 50 day moving average price of $20.39 and a 200-day moving average price of $21.19. 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 company has a market cap of $89.15 billion, a price-to-earnings ratio of -4.74 and a beta of 1.12.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.12. The firm had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. As a group, equities research analysts predict that Intel Co. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Intel

Several institutional investors and hedge funds have recently made changes to their positions in the stock. N.E.W. Advisory Services LLC acquired a new stake in Intel during the 1st quarter valued at approximately $25,000. HFM Investment Advisors LLC acquired a new stake in shares of Intel during the first quarter worth $25,000. Synergy Investment Management LLC bought a new position in Intel during the fourth quarter worth $27,000. Vermillion Wealth Management Inc. acquired a new position in Intel in the fourth quarter valued at $27,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in Intel in the first quarter valued at $27,000. Institutional investors and hedge funds 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.