Intel (NASDAQ:INTC) Shares Gap Down After Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s stock price gapped down prior to trading on Friday after Barclays lowered their price target on the stock from $44.00 to $40.00. The stock had previously closed at $35.11, but opened at $31.78. Barclays currently has an equal weight rating on the stock. Intel shares last traded at $31.42, with a volume of 35,288,315 shares changing hands.

A number of other research analysts have also recently issued reports on INTC. JPMorgan Chase & Co. decreased their target price on Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research note on Friday. Wells Fargo & Company reduced their price objective on Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. Raymond James reduced their price target on Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Sanford C. Bernstein reduced their price target on Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Evercore ISI reduced their price target on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $40.57.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was purchased at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Intel news, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several large investors have recently modified their holdings of INTC. CX Institutional boosted its holdings in Intel by 13.4% during the 3rd quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock worth $746,000 after acquiring an additional 2,474 shares during the last quarter. Secure Asset Management LLC purchased a new position in Intel during the 3rd quarter worth $212,000. Connective Portfolio Management LLC boosted its holdings in Intel by 52.0% during the 3rd quarter. Connective Portfolio Management LLC now owns 45,610 shares of the chip maker’s stock worth $1,621,000 after acquiring an additional 15,610 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in Intel by 7.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 20,077 shares of the chip maker’s stock worth $714,000 after acquiring an additional 1,411 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Intel by 5.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,294,522 shares of the chip maker’s stock worth $46,020,000 after purchasing an additional 70,269 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Down 11.1 %

The company has a market capitalization of $132.00 billion, a P/E ratio of 80.05, a PEG ratio of 3.13 and a beta of 1.00. 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 stock has a 50 day moving average price of $41.11 and a 200 day moving average price of $42.25.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the previous year, the business posted $0.10 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts forecast that Intel Co. will post 0.6 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.