Intel (NASDAQ:INTC) Trading Down 1.7% Following Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s share price traded down 1.7% during mid-day trading on Monday after Wells Fargo & Company lowered their price target on the stock from $43.00 to $38.00. Wells Fargo & Company currently has an equal weight rating on the stock. Intel traded as low as $31.07 and last traded at $31.35. 18,017,859 shares changed hands during trading, a decline of 62% from the average session volume of 47,740,711 shares. The stock had previously closed at $31.88.

Several other analysts have also recently weighed in on INTC. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 target price on shares of Intel in a research report on Friday. UBS Group raised their price target on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Stifel Nicolaus restated a “hold” rating and set a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Finally, Mizuho reduced their price target on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average price target of $39.75.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intel

Institutional investors have recently added to or reduced their stakes in the business. New Millennium Group LLC increased its position 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 buying an additional 231 shares during the period. Frazier Financial Advisors LLC purchased a new stake in shares of Intel in the fourth quarter worth $27,000. Burkett Financial Services LLC bought a new stake in Intel during the fourth quarter valued at $27,000. Tributary Capital Management LLC purchased a new position in Intel during the first quarter worth about $27,000. Finally, Legacy Financial Group LLC bought a new position in Intel in the 3rd quarter worth about $30,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Down 1.2 %

The stock has a market cap of $133.14 billion, a PE ratio of 32.66, a PEG ratio of 2.89 and a beta of 1.00. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $40.88 and a two-hundred day simple moving average of $42.30.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.19%. The business had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same period last year, the firm posted $0.10 earnings per share. Intel’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts expect that Intel Co. will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is currently 52.08%.

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.