Intel (NASDAQ:INTC) Trading Down 2.5% – Here’s What Happened

Intel Co. (NASDAQ:INTC)’s share price dropped 2.5% during trading on Friday . The company traded as low as $19.94 and last traded at $20.03. Approximately 25,116,729 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 80,609,700 shares. The stock had previously closed at $20.55.

Wall Street Analysts Forecast Growth

INTC has been the topic of a number of research reports. Wedbush dropped their target price on shares of Intel from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Cfra Research raised shares of Intel to a “hold” rating in a report on Friday, April 25th. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and upped their target price for the company from $19.00 to $25.00 in a report on Thursday, March 13th. Susquehanna dropped their price target on Intel from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Finally, Cantor Fitzgerald reduced their price objective on Intel from $29.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.57.

Intel Trading Down 2.4%

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 firm has a 50-day moving average price of $21.07 and a 200-day moving average price of $21.60. The company has a market capitalization of $87.46 billion, a price-to-earnings ratio of -4.58 and a beta of 1.15.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The business had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.26 billion. During the same quarter last year, the business posted $0.18 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts predict that Intel Co. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Intel

Hedge funds have recently modified their holdings of the stock. Freestone Grove Partners LP purchased a new position in shares of Intel in the fourth quarter worth approximately $62,654,000. Rheos Capital Works Inc. boosted its stake in Intel by 12.1% in the 4th quarter. Rheos Capital Works Inc. now owns 277,000 shares of the chip maker’s stock worth $5,554,000 after purchasing an additional 30,000 shares during the period. Clifford Swan Investment Counsel LLC grew its position in Intel by 1.9% during the 4th quarter. Clifford Swan Investment Counsel LLC now owns 819,532 shares of the chip maker’s stock worth $16,432,000 after purchasing an additional 15,214 shares in the last quarter. Toronto Dominion Bank raised its stake in Intel by 286.8% during the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock valued at $211,114,000 after purchasing an additional 7,806,882 shares during the period. Finally, Accel Wealth Management lifted its holdings in shares of Intel by 109.8% in the fourth quarter. Accel Wealth Management now owns 50,454 shares of the chip maker’s stock valued at $1,012,000 after purchasing an additional 26,411 shares in the last quarter. 64.53% of the stock is 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.