Intel (NASDAQ:INTC) Shares Down 6.3% – What’s Next?

Intel Co. (NASDAQ:INTC) shares dropped 6.3% on Wednesday . The company traded as low as $24.05 and last traded at $24.28. Approximately 52,576,300 shares were traded during trading, a decline of 26% from the average daily volume of 71,351,314 shares. The stock had previously closed at $25.92.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on INTC shares. Mizuho decreased their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Truist Financial decreased their price target on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.04.

Intel Trading Down 6.3 %

The stock has a market capitalization of $105.19 billion, a price-to-earnings ratio of -5.54 and a beta of 1.02. 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 company has a fifty day moving average of $21.68 and a two-hundred day moving average of $21.93.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts expect that Intel Co. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Intel

Several large investors have recently bought and sold shares of INTC. Quest Partners LLC increased its position in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the period. Prospera Financial Services Inc boosted its stake in Intel by 1.7% in the 3rd quarter. Prospera Financial Services Inc now owns 67,281 shares of the chip maker’s stock valued at $1,579,000 after buying an additional 1,135 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intel during the third quarter valued at $6,698,000. Premier Fund Managers Ltd boosted its stake in shares of Intel by 62.3% in the 3rd quarter. Premier Fund Managers Ltd now owns 248,678 shares of the chip maker’s stock valued at $5,942,000 after purchasing an additional 95,429 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in shares of Intel in the 3rd quarter worth about $64,000. 64.53% of the stock is currently 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.