Intel (NASDAQ:INTC) Trading Down 1.9% – Here’s What Happened

Shares of Intel Co. (NASDAQ:INTC) fell 1.9% during mid-day trading on Friday . The stock traded as low as $20.32 and last traded at $20.37. 21,544,039 shares were traded during mid-day trading, a decline of 74% from the average session volume of 82,973,731 shares. The stock had previously closed at $20.77.

Analyst Ratings Changes

Several brokerages recently issued reports on INTC. Wall Street Zen upgraded shares of Intel from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. Wells Fargo & Company dropped their price target on shares of Intel from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Susquehanna dropped their price target on shares of Intel from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of Intel in a research note on Wednesday, May 21st. They set a “hold” rating and a $23.00 price target on the stock. Finally, Cantor Fitzgerald dropped their price target on shares of Intel from $29.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average price target of $21.57.

Intel Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The company’s fifty day simple moving average is $20.43 and its two-hundred day simple moving average is $21.14. The stock has a market capitalization of $87.85 billion, a PE ratio of -4.60 and a beta of 1.12.

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

Institutional Trading of Intel

Several institutional investors have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC bought a new stake in Intel during the first quarter valued at $25,000. HFM Investment Advisors LLC bought a new stake in Intel during the first quarter valued at $25,000. Synergy Investment Management LLC bought a new stake in Intel during the fourth quarter valued at $27,000. Vermillion Wealth Management Inc. bought a new stake in Intel during the fourth quarter valued at $27,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in Intel during the first quarter valued at $27,000. 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.