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

Intel Co. (NASDAQ:INTC)’s share price fell 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.

INTC has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Truist Financial raised their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. TD Cowen upgraded shares of Intel to a “hold” rating in a report on Monday, September 16th. Bank of America restated an “underperform” rating and set a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Finally, Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Six equities research 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $29.96.

Insider Buying and Selling at Intel

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 directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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 company. State Street Corp grew its holdings in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC grew its holdings in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Primecap Management Co. CA increased its position in Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Up 0.3 %

The company has a market cap of $82.81 billion, a P/E ratio of -5.16 and a beta of 1.07. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $21.97 and its two-hundred day moving average is $23.58.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the business earned $0.28 earnings per share. Intel’s revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Intel Co. will post -0.87 EPS for the current 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.