Intel (NASDAQ:INTC) Shares Down 0.5% After Analyst Downgrade

Shares of Intel Co. (NASDAQ:INTC) traded down 0.5% 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. 7,246,231 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 46,672,590 shares. The stock had previously closed at $36.31.

Several other research analysts have also commented on the stock. Susquehanna reaffirmed a “neutral” rating and set a $42.00 price objective on shares of Intel in a research note on Thursday, April 4th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, January 26th. Raymond James cut their target price on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Finally, Barclays upped their target price on Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Four equities research 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. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus target price of $42.69.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 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 acquired at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price 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 in the company, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Barrett & Company Inc. boosted its holdings in Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after acquiring an additional 210 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Intel by 3.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after acquiring an additional 216 shares during the period. New Millennium Group LLC boosted its holdings in Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares during the period. Waldron Private Wealth LLC boosted its holdings in Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares during the period. Finally, Virtue Capital Management LLC boosted its holdings in Intel by 3.3% during the 4th quarter. Virtue Capital Management LLC now owns 7,580 shares of the chip maker’s stock valued at $355,000 after acquiring an additional 245 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Down 0.1 %

The business has a fifty day moving average of $42.32 and a 200 day moving average of $42.40. The company has a market capitalization of $153.31 billion, a PE ratio of 92.98, a PEG ratio of 3.16 and a beta of 1.00. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating 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 return on equity of 1.64% and a net margin of 3.11%. Intel’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. Equities research analysts anticipate that Intel Co. will post 0.62 EPS for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Tuesday, February 6th. Intel’s dividend payout ratio is currently 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.