Intel (NASDAQ:INTC) Trading Down 4.3% After Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s stock price dropped 4.3% during trading on Friday 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 $18.97 and last traded at $19.02. Approximately 28,138,425 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 51,767,906 shares. The stock had previously closed at $19.88.

A number of other research analysts have also weighed in on the company. Truist Financial upped their price objective on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Bank of America reiterated an “underperform” rating and issued a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group decreased their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average target price of $29.96.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Institutional Trading of Intel

Several institutional investors have recently made changes to their positions in the stock. William B. Walkup & Associates Inc. purchased a new stake in Intel during the second quarter valued at about $2,178,000. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 4,103,553 shares during the period. Principal Financial Group Inc. increased its position in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Swiss National Bank raised its holdings in Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the period. Finally, SGL Investment Advisors Inc. purchased a new position in Intel in the third quarter valued at approximately $2,365,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Down 3.7 %

The business’s 50-day simple moving average is $22.03 and its two-hundred day simple moving average is $23.71. The stock has a market capitalization of $82.59 billion, a price-to-earnings ratio of -5.15 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same period last year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts anticipate that Intel Co. will post -0.87 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.