Intel (NASDAQ:INTC) Trading Down 2.5% - Here's What Happened

Intel Co. (NASDAQ:INTC - Get Free Report) dropped 2.5% on Friday . The stock traded as low as $19.94 and last traded at $20.03. Approximately 25,116,729 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 80,609,700 shares. The stock had previously closed at $20.55.

Analysts Set New Price Targets

INTC has been the topic of several research reports. Benchmark reissued a "hold" rating on shares of Intel in a research report on Friday, April 25th. Wells Fargo & Company cut 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. Truist Financial reduced their target price on shares of Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a report on Friday, January 31st. Rosenblatt Securities dropped their price target on shares of Intel from $18.00 to $14.00 and set a "sell" rating for the company in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. cut their price objective on Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $21.57.

Intel Stock Performance

The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $20.99 and a 200-day moving average price of $21.52. The firm has a market cap of $89.64 billion, a price-to-earnings ratio of -4.69 and a beta of 1.15.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. During the same period last year, the firm posted $0.18 EPS. Intel's quarterly revenue was down .4% on a year-over-year basis. On average, analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intel

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Intel by 2.2% in the first quarter. Vanguard Group Inc. now owns 377,390,437 shares of the chip maker's stock valued at $8,570,537,000 after buying an additional 8,291,233 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Intel by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after acquiring an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intel by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock worth $1,268,430,000 after purchasing an additional 4,793,927 shares in the last quarter. Norges Bank acquired a new position in shares of Intel during the 4th quarter worth $1,246,569,000. Finally, Northern Trust Corp increased its holdings in shares of Intel by 0.3% in the 1st quarter. Northern Trust Corp now owns 45,969,843 shares of the chip maker's stock valued at $1,043,975,000 after purchasing an additional 158,288 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Company Profile

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.