Intel (NASDAQ:INTC) Shares Down 4.3% on Analyst Downgrade

Intel Co. (NASDAQ:INTCGet Free Report) dropped 4.3% on Friday after Mizuho lowered their price target on the stock from $23.00 to $21.00. Mizuho currently has a neutral rating on the stock. Intel traded as low as $18.97 and last traded at $19.02. Approximately 28,138,425 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 51,767,906 shares. The stock had previously closed at $19.88.

Several other research firms have also commented on INTC. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Bank of America restated an “underperform” rating and issued a $21.00 price target on shares of Intel in a research note on Tuesday, December 3rd. Truist Financial lifted their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Robert W. Baird raised their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.96.

Read Our Latest Stock Analysis on INTC

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INTC. Cyrus J. Lawrence LLC acquired a new position in shares of Intel in the second quarter worth $27,000. Quest Partners LLC raised its stake in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares in the last quarter. Groupama Asset Managment lifted its holdings in shares of Intel by 6.3% during the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after buying an additional 8,084 shares during the last quarter. FSA Wealth Management LLC bought a new stake in shares of Intel in the 3rd quarter valued at approximately $34,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Intel in the second quarter worth approximately $35,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The stock has a market cap of $82.59 billion, a P/E ratio of -5.15 and a beta of 1.07. The firm’s 50-day moving average is $22.03 and its two-hundred day moving average is $23.71.

Intel (NASDAQ:INTCGet Free Report) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts expect that Intel Co. will post -0.87 EPS for the current year.

About Intel

(Get Free Report)

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.

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