Intel (NASDAQ:INTC) Stock Price Down 1.8% - Here's Why

Shares of Intel Co. (NASDAQ:INTC - Get Free Report) were down 1.8% during mid-day trading on Tuesday . The stock traded as low as $19.77 and last traded at $19.92. Approximately 14,312,519 shares were traded during trading, a decline of 82% from the average daily volume of 79,426,221 shares. The stock had previously closed at $20.27.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Susquehanna cut their price target on Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company reduced their price objective on Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Cfra Research raised shares of Intel to a "hold" rating in a research note on Friday, April 25th. Benchmark restated a "hold" rating on shares of Intel in a report on Friday, April 25th. Finally, Wedbush lowered their price target on Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Six investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $22.23.

Intel Trading Down 0.0 %

The stock has a market cap of $91.56 billion, a price-to-earnings ratio of -4.79 and a beta of 1.15. 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 business has a 50 day simple moving average of $21.24 and a two-hundred day simple moving average of $21.71.

Intel (NASDAQ:INTC - Get Free Report) last released its earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. The company had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. Intel's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. As a group, equities analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Intel

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Intel during the 4th quarter valued at about $1,246,569,000. Two Sigma Advisers LP acquired a new position in Intel during the fourth quarter worth about $289,752,000. Assenagon Asset Management S.A. lifted its stake in Intel by 264.0% during 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 during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Intel during the 4th quarter valued at $237,457,000. Finally, Toronto Dominion Bank boosted its position in shares of Intel by 286.8% in 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. 64.53% of the stock is 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.