Intel (NASDAQ:INTC) Trading Down 3% on Analyst Downgrade

Intel Co. (NASDAQ:INTC) shares were down 3% during trading on Wednesday after Susquehanna lowered their price target on the stock from $24.00 to $22.00. Susquehanna currently has a neutral rating on the stock. Intel traded as low as $19.10 and last traded at $19.26. Approximately 21,566,232 shares changed hands during trading, a decline of 72% from the average daily volume of 77,834,861 shares. The stock had previously closed at $19.85.

INTC has been the subject of a number of other reports. Truist Financial dropped their price objective on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Monday. Bank of America upgraded shares of Intel from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.38.

Institutional Investors Weigh In On Intel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Intel during the fourth quarter worth approximately $1,246,569,000. Two Sigma Advisers LP purchased a new stake in shares of Intel during the fourth quarter valued at $289,752,000. Assenagon Asset Management S.A. raised its stake in shares of Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after purchasing an additional 14,227,458 shares during the last quarter. Two Sigma Investments LP purchased a new position in Intel during the 4th quarter worth approximately $237,457,000. Finally, Toronto Dominion Bank lifted its position in Intel by 286.8% during the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker’s stock valued at $211,114,000 after purchasing an additional 7,806,882 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Trading Down 2.8 %

The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm has a market cap of $84.12 billion, a price-to-earnings ratio of -4.40 and a beta of 1.13. The company has a fifty day moving average price of $22.39 and a 200-day moving average price of $22.04.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. As a group, research analysts expect that Intel Co. will post -0.11 EPS 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.