Intel (NASDAQ:INTC) Stock Price Down 3.4% - What's Next?

Intel Corporation (NASDAQ:INTC - Get Free Report)'s stock price dropped 3.4% during mid-day trading on Wednesday . The stock traded as low as $21.52 and last traded at $22.08. Approximately 55,428,160 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 85,552,393 shares. The stock had previously closed at $22.85.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Morgan Stanley reduced their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Citigroup restated a "sell" rating on shares of Intel in a research note on Friday, April 25th. Rosenblatt Securities lowered their target price on Intel from $18.00 to $14.00 and set a "sell" rating for the company in a research note on Friday, April 25th. UBS Group lowered their target price on Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Mizuho increased their target price on Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Intel presently has an average rating of "Hold" and a consensus target price of $21.62.

Intel Trading Up 2.4%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.31. The business has a fifty day simple moving average of $21.04 and a 200 day simple moving average of $21.18. The company has a market cap of $97.73 billion, a P/E ratio of -5.00 and a beta of 1.15.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.12. The business 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 3.15% and a negative net margin of 36.19%. The business's revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Analysts anticipate that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of Intel

Hedge funds have recently made changes to their positions in the stock. Freestone Grove Partners LP bought a new stake in shares of Intel in the 4th quarter worth approximately $62,654,000. 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 acquiring an additional 7,806,882 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in Intel by 124.9% during the 1st quarter. 180 Wealth Advisors LLC now owns 127,916 shares of the chip maker's stock valued at $2,905,000 after acquiring an additional 71,049 shares in the last quarter. Alteri Wealth LLC bought a new stake in Intel during the 4th quarter valued at $2,379,000. Finally, Gordian Capital Singapore Pte Ltd raised its stake in Intel by 120.7% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 64,000 shares of the chip maker's stock valued at $1,282,000 after acquiring an additional 35,000 shares in the last quarter. Institutional investors 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.