Intel (NASDAQ:INTC) Stock Price Down 0.2% After Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s share price traded down 0.2% during mid-day trading on Thursday after Susquehanna lowered their price target on the stock from $42.00 to $40.00. Susquehanna currently has a neutral rating on the stock. Intel traded as low as $35.12 and last traded at $35.60. 8,935,346 shares changed hands during trading, a decline of 81% from the average session volume of 46,404,551 shares. The stock had previously closed at $35.68.

Several other brokerages have also weighed in on INTC. UBS Group lifted their price objective on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Bank of America decreased their price objective on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Wedbush reissued a “neutral” rating and issued a $40.00 price objective on shares of Intel in a report on Wednesday. Finally, TD Cowen decreased their price objective on Intel from $45.00 to $42.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.62.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Patrick P. Gelsinger acquired 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, with a total value of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the stock in a transaction dated Monday, January 29th. The stock was bought 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 in the company, valued at $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intel

A number of institutional investors and hedge funds have recently bought and sold shares of INTC. Cornerstone Planning Group LLC acquired a new position in shares of Intel during the second quarter valued at approximately $25,000. New Millennium Group LLC boosted its holdings in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Frazier Financial Advisors LLC purchased a new position in Intel in the fourth quarter valued at $27,000. Burkett Financial Services LLC purchased a new position in Intel in the fourth quarter valued at $27,000. Finally, Hanseatic Management Services Inc. purchased a new position in Intel in the fourth quarter valued at $27,000. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

The stock has a market capitalization of $148.15 billion, a PE ratio of 89.85, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00. The stock has a fifty day moving average of $42.03 and a 200-day moving average of $42.30. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last posted its 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 business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Equities analysts anticipate that Intel Co. will post 0.62 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.43%. 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.