Intel (NASDAQ:INTC) Stock Price Down 2.6% Following Analyst Downgrade

Shares of Intel Co. (NASDAQ:INTC) dropped 2.6% on Thursday after Susquehanna lowered their price target on the stock from $24.00 to $22.00. Susquehanna currently has a neutral rating on the stock. Intel traded as low as $18.62 and last traded at $18.73. Approximately 28,644,253 shares traded hands during trading, a decline of 63% from the average daily volume of 78,108,002 shares. The stock had previously closed at $19.23.

A number of other research analysts have also issued reports on the stock. Mizuho cut their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Stifel Nicolaus cut their target price on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. HSBC raised Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Bank of America raised Intel from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $19.00 to $25.00 in a report on Thursday, March 13th. Four equities research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.38.

Institutional Investors Weigh In On Intel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Intel during the fourth quarter worth about $1,246,569,000. Two Sigma Advisers LP purchased a new position in shares of Intel in the fourth quarter valued at approximately $289,752,000. Assenagon Asset Management S.A. lifted its holdings in Intel by 264.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after purchasing an additional 14,227,458 shares in the last quarter. Two Sigma Investments LP acquired a new position in Intel during the fourth quarter worth about $237,457,000. Finally, Toronto Dominion Bank grew its stake in Intel by 286.8% during the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock valued at $211,114,000 after acquiring an additional 7,806,882 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $22.38 and its 200 day simple moving average is $21.99. The company has a market cap of $82.55 billion, a price-to-earnings ratio of -4.32 and a beta of 1.13.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. As a group, analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

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.