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

Intel Co. (NASDAQ:INTC) traded down 8.3% on Tuesday . The stock 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 Ratings Changes

Several equities analysts recently weighed in on the company. HSBC raised Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Truist Financial dropped their price target on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Bank of America reissued an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Finally, Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.88.

Intel Stock Performance

The stock has a market capitalization of $92.36 billion, a P/E ratio of -4.87 and a beta of 1.02. The company has a fifty day moving average of $21.26 and a two-hundred day moving average of $21.82. 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 issued 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%. On average, equities analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently modified their holdings of INTC. Geode Capital Management LLC increased its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC boosted its holdings in Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after acquiring an additional 19,625 shares during the period. Principal Financial Group Inc. boosted its holdings in Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after acquiring an additional 204,200 shares during the period. Empirical Asset Management LLC bought a new stake in Intel during the fourth quarter valued at about $276,000. Finally, Swiss National Bank boosted its holdings in Intel by 0.3% during the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after acquiring an additional 31,800 shares during the period. 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.