Intel (NASDAQ:INTC) Stock Price Down 3.2% – Time to Sell?

Intel Co. (NASDAQ:INTC) fell 3.2% during trading on Wednesday . The stock traded as low as $23.36 and last traded at $23.44. 20,339,076 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 71,871,972 shares. The stock had previously closed at $24.20.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Wells Fargo & Company lowered their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Bank of America upgraded shares of Intel from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $19.00 to $25.00 in a report on Thursday, March 13th. 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. Finally, Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $27.04.

Intel Stock Performance

The firm has a market capitalization of $101.64 billion, a price-to-earnings ratio of -5.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The firm has a 50 day moving average price of $22.30 and a 200-day moving average price of $22.10.

Intel (NASDAQ:INTC) last announced 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 net margin of 35.32% and a negative return on equity of 3.27%. As a group, sell-side analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intel

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC lifted its position in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the last quarter. Finley Financial LLC acquired a new stake in Intel during the 4th quarter worth $25,000. Vermillion Wealth Management Inc. purchased a new stake in Intel in the fourth quarter valued at $27,000. Synergy Investment Management LLC acquired a new position in Intel in the fourth quarter valued at $27,000. Finally, BankPlus Trust Department purchased a new stake in shares of Intel in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.