Intel (NASDAQ:INTC) Trading Down 1.8% After Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s stock price traded down 1.8% during trading on Monday 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 $18.75 and last traded at $18.81. 15,157,444 shares were traded during mid-day trading, a decline of 71% from the average session volume of 53,044,270 shares. The stock had previously closed at $19.15.

A number of other research analysts also recently weighed in on INTC. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. TD Cowen upgraded shares of Intel to a “hold” rating in a research note on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. The Goldman Sachs Group decreased their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Finally, Robert W. Baird upped their price target on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.96.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Van ECK Associates Corp grew its stake in Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. State Street Corp lifted its position in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in shares of Intel in the 2nd quarter worth approximately $162,592,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Performance

The firm’s 50 day moving average is $22.03 and its 200 day moving average is $23.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a market cap of $81.17 billion, a P/E ratio of -5.06 and a beta of 1.07.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the firm earned $0.28 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Analysts anticipate that Intel Co. will post -0.87 EPS for the current 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.