Intel (NASDAQ:INTC) Trading Down 1% on Analyst Downgrade

Intel Co. (NASDAQ:INTC) was down 1% on Wednesday after Susquehanna lowered their price target on the stock from $42.00 to $40.00. Susquehanna currently has a neutral rating on the stock. Intel traded as low as $35.78 and last traded at $35.89. Approximately 6,983,814 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 46,437,496 shares. The stock had previously closed at $36.26.

A number of other equities research analysts also recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $40.00 price target on shares of Intel in a research report on Wednesday. UBS Group lifted their price target on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Citigroup dropped their price target on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research report on Monday. TD Cowen lowered their price objective on shares of Intel from $45.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Finally, Stifel Nicolaus restated a “hold” rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.62.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were acquired at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the transaction, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several institutional investors have recently made changes to their positions in INTC. New Millennium Group LLC raised its holdings in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Cornerstone Planning Group LLC acquired a new position in shares of Intel during the second quarter valued at about $25,000. Frazier Financial Advisors LLC acquired a new position in shares of Intel during the fourth quarter valued at about $27,000. Burkett Financial Services LLC acquired a new position in shares of Intel during the fourth quarter valued at about $27,000. Finally, Tributary Capital Management LLC acquired a new stake in shares of Intel in the 1st quarter worth about $27,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The company has a market cap of $148.15 billion, a price-to-earnings ratio of 89.85, a price-to-earnings-growth ratio of 3.20 and a beta of 1.00. The stock’s fifty day moving average is $42.03 and its two-hundred day moving average is $42.30.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts predict that Intel Co. will post 0.61 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.43%. Intel’s dividend payout ratio is presently 128.21%.

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.