Intel (NASDAQ:INTC) Shares Down 1.6% – Here’s What Happened

Shares of Intel Co. (NASDAQ:INTC) traded down 1.6% on Tuesday . The stock traded as low as $21.81 and last traded at $22.34. 21,676,825 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 74,413,067 shares. The stock had previously closed at $22.71.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INTC. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Rosenblatt Securities reissued a “sell” rating and issued a $20.00 price objective on shares of Intel in a research report on Thursday, January 30th. HSBC raised Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, January 31st. Finally, Needham & Company LLC 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 issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.04.

Intel Stock Down 3.1 %

The company has a market cap of $95.28 billion, a price-to-earnings ratio of -5.03 and a beta of 1.02. The business has a fifty day moving average of $22.35 and a two-hundred day moving average of $22.19. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. As a group, equities analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently bought and sold shares of INTC. Vanguard Group Inc. raised its holdings in shares of Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares in the last quarter. State Street Corp increased its position in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC grew its holdings in Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after buying an additional 2,978,346 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intel by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock worth $1,268,430,000 after buying an additional 4,793,927 shares in the last quarter. Finally, Norges Bank purchased a new position in Intel during the fourth quarter worth about $1,246,569,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.