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

Intel Co. (NASDAQ:INTC) fell 2.6% during mid-day trading on Monday after Cantor Fitzgerald lowered their price target on the stock from $29.00 to $20.00. Cantor Fitzgerald currently has a neutral rating on the stock. Intel traded as low as $18.51 and last traded at $18.45. 17,660,582 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 78,458,618 shares. The stock had previously closed at $18.93.

INTC has been the subject of a number of other research reports. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Rosenblatt Securities reiterated a “sell” rating and set a $20.00 price objective on shares of Intel in a research report on Thursday, January 30th. Bank of America upgraded shares of Intel from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $19.00 to $25.00 in a report on Thursday, March 13th. Susquehanna cut their price objective on Intel from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Finally, Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

Institutional Investors Weigh In On Intel

Several large investors have recently modified their holdings of the business. Abundance Wealth Counselors increased its holdings in Intel by 21.6% during the first quarter. Abundance Wealth Counselors now owns 41,867 shares of the chip maker’s stock valued at $1,030,000 after buying an additional 7,433 shares during the period. GFS Advisors LLC increased its holdings in shares of Intel by 8.8% in the 1st quarter. GFS Advisors LLC now owns 290,035 shares of the chip maker’s stock valued at $6,587,000 after acquiring an additional 23,485 shares during the period. Advisory Resource Group raised its position in shares of Intel by 7.1% in the 1st quarter. Advisory Resource Group now owns 18,196 shares of the chip maker’s stock worth $413,000 after acquiring an additional 1,202 shares in the last quarter. Silver Oak Securities Incorporated lifted its stake in shares of Intel by 38.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 32,792 shares of the chip maker’s stock worth $745,000 after purchasing an additional 9,180 shares during the last quarter. Finally, Premier Path Wealth Partners LLC grew its stake in Intel by 40.6% in the first quarter. Premier Path Wealth Partners LLC now owns 18,870 shares of the chip maker’s stock valued at $429,000 after purchasing an additional 5,448 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

The company has a market cap of $82.15 billion, a PE ratio of -4.30 and a beta of 1.13. The firm has a 50 day simple moving average of $22.26 and a 200-day simple moving average of $21.93. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

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