Intel (NASDAQ:INTC) Shares Down 9.5% After Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s stock price traded down 9.5% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $45.00 to $33.00. Truist Financial currently has a hold rating on the stock. Intel traded as low as $30.64 and last traded at $31.77. 54,956,286 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 47,271,449 shares. The stock had previously closed at $35.11.

Several other equities research analysts have also recently weighed in on the stock. TD Cowen reduced their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. UBS Group upped their target price on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Morgan Stanley dropped their price target on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Citigroup decreased their price objective on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $39.92.

Insider Buying and Selling

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

Institutional Trading of Intel

Hedge funds have recently bought and sold shares of the stock. Slow Capital Inc. lifted its stake in shares of Intel by 0.9% during the 4th quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock worth $2,749,000 after purchasing an additional 508 shares during the last quarter. Altus Wealth Group LLC lifted its position in shares of Intel by 29.4% during the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after buying an additional 5,759 shares during the last quarter. Alera Investment Advisors LLC bought a new stake in shares of Intel in the 4th quarter valued at about $201,000. Vanguard Capital Wealth Advisors grew its position in shares of Intel by 1.3% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock worth $1,613,000 after buying an additional 574 shares during the last quarter. Finally, Prosperity Wealth Management Inc. bought a new position in shares of Intel during the 4th quarter worth approximately $293,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

The company has a market cap of $134.96 billion, a PE ratio of 81.59, a PEG ratio of 3.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The stock’s 50-day moving average is $41.11 and its 200 day moving average is $42.25.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Intel Co. will post 0.6 earnings per share for the current fiscal year.

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.