Intel (NASDAQ:INTC) Trading Down 9.5% on Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s share price dropped 9.5% during trading on Friday after Truist Financial lowered their price target on the stock from $45.00 to $33.00. Truist Financial currently has a hold rating on the stock. Intel traded as low as $30.64 and last traded at $31.77. Approximately 54,956,286 shares traded hands during mid-day trading, an increase of 16% from the average daily volume of 47,271,449 shares. The stock had previously closed at $35.11.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Citigroup decreased their price objective on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a report on Monday, April 15th. UBS Group lifted their target price on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. cut their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Barclays cut their price target on shares of Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $39.92.

Insider Buying and Selling

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

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently bought and sold shares of the company. New Millennium Group LLC grew its holdings in shares of Intel by 87.2% during the 4th 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 last quarter. Burkett Financial Services LLC purchased a new position in shares of Intel in the fourth quarter worth about $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Intel in the 4th quarter valued at about $27,000. Tributary Capital Management LLC bought a new position in Intel during the 1st quarter worth approximately $27,000. Finally, Valued Wealth Advisors LLC bought a new stake in Intel in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

The firm’s fifty day moving average price is $41.11 and its 200-day moving average price is $42.25. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The stock has a market cap of $134.96 billion, a P/E ratio of 81.59, a PEG ratio of 3.13 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. Analysts forecast that Intel Co. will post 0.6 earnings per share 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.