Intel (NASDAQ:INTC) Stock Price Down 0.6% - Here's What Happened

Intel Co. (NASDAQ:INTC - Get Free Report) shares fell 0.6% during trading on Thursday . The company traded as low as $21.19 and last traded at $21.38. 17,853,443 shares traded hands during trading, a decline of 78% from the average session volume of 80,111,713 shares. The stock had previously closed at $21.52.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INTC shares. Susquehanna reduced their target price on Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Bank of America upgraded Intel from an "underperform" rating to a "neutral" rating and increased their target price for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Rosenblatt Securities cut their target price on Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a research note on Friday, April 25th. Needham & Company LLC reissued a "hold" rating on shares of Intel in a report on Friday, April 25th. Finally, Morgan Stanley decreased their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Six research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $21.67.

Intel Trading Up 0.1%

The stock has a market capitalization of $93.98 billion, a P/E ratio of -4.92 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 company has a 50-day moving average price of $21.33 and a 200 day moving average price of $21.70.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $12.26 billion. During the same quarter in the previous year, the business earned $0.18 EPS. The company's quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently bought and sold shares of INTC. Finley Financial LLC acquired a new stake in shares of Intel in the fourth quarter valued at $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Intel in the 1st quarter valued at about $25,000. Synergy Investment Management LLC purchased a new stake in shares of Intel in the fourth quarter valued at about $27,000. Vermillion Wealth Management Inc. purchased a new stake in Intel during the 4th quarter valued at approximately $27,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Intel during the 1st quarter worth approximately $27,000. Hedge funds and other 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.

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