Intel (NASDAQ:INTC) Shares Down 2.2% - Here's What Happened

Intel Co. (NASDAQ:INTC - Get Free Report)'s stock price traded down 2.2% during trading on Friday . The company traded as low as $19.80 and last traded at $19.81. 25,647,177 shares were traded during trading, a decline of 68% from the average session volume of 80,902,241 shares. The stock had previously closed at $20.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INTC shares. JPMorgan Chase & Co. lowered their price objective on Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Mizuho decreased their price objective on shares of Intel from $23.00 to $22.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Barclays restated a "reduce" rating on shares of Intel in a research note on Tuesday, April 22nd. Citigroup reiterated a "sell" rating on shares of Intel in a research note on Friday, April 25th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Intel in a report on Friday, April 25th. Six 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's stock. Based on data from MarketBeat, Intel presently has a consensus rating of "Hold" and a consensus target price of $21.57.

Intel Stock Up 1.0%

The stock has a 50-day moving average of $20.67 and a 200 day moving average of $21.39. The company has a market capitalization of $86.11 billion, a PE ratio of -4.51 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 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 analyst estimates of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The company's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Sell-side analysts anticipate that Intel Co. will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Cornerstone Advisory LLC boosted its position in shares of Intel by 4.3% during the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock valued at $198,000 after acquiring an additional 409 shares during the last quarter. Evergreen Capital Management LLC grew its stake in Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after buying an additional 419 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Intel by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock worth $3,263,000 after buying an additional 456 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Intel by 1.1% during the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock valued at $1,037,000 after buying an additional 486 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its position in Intel by 23.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker's stock worth $59,000 after acquiring an additional 491 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.