What is the line of code in * doing?

for (int i = 7; i >= 0; i--)
{
    ***int x = ((value >> (4 * i)) % 16);***//What is this line doing
    if (x < 10)
        cout<< x;
    else
        cout << (char)('A' + (x - 10));

} // I had nothing more to say but it won't let me post unless I write a few lines here