Intel (NASDAQ:INTC) Trading Down 1.8% on Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s share price traded down 1.8% on Monday after Mizuho lowered their price target on the stock from $23.00 to $21.00. Mizuho currently has a neutral rating on the stock. Intel traded as low as $18.75 and last traded at $18.81. 15,157,444 shares changed hands during trading, a decline of 71% from the average session volume of 53,044,270 shares. The stock had previously closed at $19.15.

A number of other equities research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Northland Securities cut their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.96.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel in the 2nd quarter worth approximately $27,000. Quest Partners LLC raised its holdings in Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Intel in the third quarter worth approximately $34,000. Capital Performance Advisors LLP bought a new position in Intel during the 3rd quarter valued at $36,000. Finally, West Financial Advisors LLC bought a new position in Intel during the 4th quarter valued at $31,000. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The company has a market cap of $82.81 billion, a P/E ratio of -5.16 and a beta of 1.07. The stock has a 50 day moving average price of $21.89 and a 200 day moving average price of $23.49.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the firm posted $0.28 earnings per share. Intel’s revenue was down 6.3% compared to the same quarter last year. Research analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal year.

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.