Intel (NASDAQ:INTC) Stock Price Down 0.5% Following Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s stock price was down 0.5% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $47.50 to $40.00. Citigroup currently has a neutral rating on the stock. Intel traded as low as $35.76 and last traded at $36.12. Approximately 7,246,231 shares changed hands during trading, a decline of 84% from the average daily volume of 46,672,590 shares. The stock had previously closed at $36.31.

Several other research analysts also recently issued reports on INTC. Susquehanna reaffirmed a “neutral” rating and set a $42.00 price objective on shares of Intel in a report on Thursday, April 4th. HSBC reduced their price objective on Intel from $46.00 to $44.00 and set a “hold” rating on the stock in a report on Friday, January 26th. Barclays upped their price objective on Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group increased their price target on Intel from $34.00 to $39.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.69.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Patrick P. Gelsinger acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of hedge funds and other institutional investors have recently modified their holdings of INTC. Moneta Group Investment Advisors LLC grew its stake in shares of Intel by 100,953.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock worth $1,351,468,000 after buying an additional 51,083,262 shares during the last quarter. Norges Bank acquired a new position in shares of Intel during the fourth quarter worth $2,424,202,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Intel by 4,407.3% during the first quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after purchasing an additional 16,074,485 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Intel by 171.1% during the second quarter. Barclays PLC now owns 21,404,715 shares of the chip maker’s stock worth $715,773,000 after purchasing an additional 13,507,774 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 0.5 %

The company has a market cap of $152.72 billion, a price-to-earnings ratio of 92.62, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. The business’s fifty day moving average price is $42.45 and its 200 day moving average price is $42.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The company had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. Intel’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. Research analysts anticipate that Intel Co. will post 0.62 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were issued a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a yield of 1.38%. Intel’s payout ratio is 128.21%.

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.