Intel (NASDAQ:INTC) Shares Down 2.8% - Time to Sell?

Intel Co. (NASDAQ:INTC - Get Free Report)'s stock price dropped 2.8% on Wednesday . The company traded as low as $19.55 and last traded at $19.78. Approximately 22,595,895 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 79,352,542 shares. The stock had previously closed at $20.34.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Benchmark reissued a "hold" rating on shares of Intel in a report on Friday, April 25th. Roth Mkm lowered their price target on Intel from $25.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Bank of America upgraded shares of Intel from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $19.00 to $25.00 in a research note on Thursday, March 13th. Wells Fargo & Company lowered their target price on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Finally, Mizuho cut their target price on shares of Intel from $23.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $22.23.

Intel Stock Down 2.8 %

The firm has a fifty day moving average price of $21.70 and a 200 day moving average price of $21.82. The firm has a market capitalization of $86.25 billion, a price-to-earnings ratio of -4.52 and a beta of 1.13. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.12. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The business had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. During the same quarter last year, the business posted $0.18 earnings per share. Intel's revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Intel

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Intel in the fourth quarter worth about $1,246,569,000. Two Sigma Advisers LP bought a new stake in Intel during the 4th quarter worth approximately $289,752,000. Assenagon Asset Management S.A. raised its holdings in Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker's stock worth $393,323,000 after buying an additional 14,227,458 shares during the period. Two Sigma Investments LP bought a new position in Intel in the fourth quarter valued at approximately $237,457,000. Finally, Toronto Dominion Bank boosted its holdings in shares of Intel by 286.8% in the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock valued at $211,114,000 after buying an additional 7,806,882 shares during the period. 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.

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