Intel (NASDAQ:INTC) Stock Price Down 9.5% Following Analyst Downgrade

Shares of Intel Co. (NASDAQ:INTC) were down 9.5% on Friday after Wells Fargo & Company lowered their price target on the stock from $43.00 to $38.00. Wells Fargo & Company currently has an equal weight rating on the stock. Intel traded as low as $30.64 and last traded at $31.77. Approximately 54,956,286 shares changed hands during trading, an increase of 16% from the average daily volume of 47,271,449 shares. The stock had previously closed at $35.11.

INTC has been the subject of several other reports. Roth Mkm reduced their price target on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a report on Friday. UBS Group lifted their target price on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Truist Financial cut their price target on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a report on Friday. Raymond James decreased their price objective on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Finally, Sanford C. Bernstein cut their target price on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.75.

Insider Transactions at Intel

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

Institutional Investors Weigh In On Intel

Institutional investors and hedge funds have recently modified their holdings of the stock. New Millennium Group LLC increased its holdings in Intel by 87.2% in 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 last quarter. Frazier Financial Advisors LLC purchased a new position in shares of Intel during the fourth quarter valued at about $27,000. Burkett Financial Services LLC bought a new stake in shares of Intel in the fourth quarter worth about $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel in the first quarter worth about $27,000. Finally, Legacy Financial Group LLC bought a new position in Intel during the third quarter valued at approximately $30,000. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

The firm has a market cap of $134.79 billion, a PE ratio of 81.75, a PEG ratio of 3.13 and a beta of 1.00. The firm has a fifty day simple moving average of $40.88 and a two-hundred day simple moving average of $42.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. Intel’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts predict that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is 128.21%.

Intel Company Profile

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.