Intel (NASDAQ:INTC) Shares Down 4.3% – Here’s Why

Intel Co. (NASDAQ:INTC) was down 4.3% on Friday . The company traded as low as $22.86 and last traded at $23.08. Approximately 101,408,495 shares changed hands during trading, an increase of 22% from the average daily volume of 83,252,711 shares. The stock had previously closed at $24.13.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial dropped their price objective on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Mizuho cut their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Wells Fargo & Company reduced their target price on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, January 31st. Finally, UBS Group dropped their price target on Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.60.

Intel Price Performance

The business’s fifty day simple moving average is $20.28 and its 200 day simple moving average is $21.73. The firm has a market capitalization of $101.81 billion, a price-to-earnings ratio of -5.37 and a beta of 1.08. 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 earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, research analysts forecast that Intel Co. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Intel

Large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Intel in the 4th quarter worth about $1,246,569,000. Assenagon Asset Management S.A. lifted its holdings in shares of Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after purchasing an additional 14,227,458 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp raised its position in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after acquiring an additional 7,207,785 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

About Intel

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.