Shares of Intel (NASDAQ: INTC) tumbled to kick off the new year, falling as much as 5.6%. As of 3:35 p.m. ET, the stock was down 5.19%.

Part of what dragged the semiconductor company down was the stock market's broader decline to start the year. A Wall Street analyst also added fuel to the fire. Despite issuing a higher price target, the analyst doesn't view Intel as one of a select group of "attractive" chip stocks.

Stifel analyst Tore Svanberg maintained a hold rating on Intel, though he increased his price target to $45 from $38. While that might seem like good news at first glance, it suggests an additional downside of 10% compared to Friday's closing price.

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Source Fool.com