Intel (NASDAQ:INTC) Shares Down 0.2% Following Analyst Downgrade

Intel Co. (NASDAQ:INTC) was down 0.2% during trading on Tuesday after HSBC lowered their price target on the stock from $44.00 to $37.00. HSBC currently has a hold rating on the stock. Intel traded as low as $34.18 and last traded at $34.33. Approximately 9,907,040 shares traded hands during trading, a decline of 79% from the average daily volume of 46,423,176 shares. The stock had previously closed at $34.41.

Several other brokerages have also recently issued reports on INTC. Bank of America cut their target price on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 26th. Wedbush reaffirmed a “neutral” rating and set a $40.00 target price on shares of Intel in a research report on Wednesday, April 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus target price of $42.38.

Insiders Place Their Bets

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 acquired 3,000 shares of Intel stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were bought 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 $1,336,693.50. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several institutional investors have recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. boosted its holdings in Intel by 14.4% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 8,505 shares of the chip maker’s stock valued at $376,000 after acquiring an additional 1,068 shares during the period. Bell Bank lifted its holdings in Intel by 1.0% in the 1st quarter. Bell Bank now owns 247,316 shares of the chip maker’s stock worth $10,924,000 after buying an additional 2,467 shares during the period. Godsey & Gibb Inc. lifted its holdings in Intel by 15.4% in the 1st quarter. Godsey & Gibb Inc. now owns 14,566 shares of the chip maker’s stock worth $643,000 after buying an additional 1,940 shares during the period. Charter Oak Capital Management LLC lifted its holdings in Intel by 3.5% in the 1st quarter. Charter Oak Capital Management LLC now owns 23,044 shares of the chip maker’s stock worth $1,018,000 after buying an additional 772 shares during the period. Finally, Busey Bank lifted its holdings in Intel by 0.6% in the 1st quarter. Busey Bank now owns 130,133 shares of the chip maker’s stock worth $5,748,000 after buying an additional 742 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Trading Down 0.4 %

The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $41.48 and a two-hundred day simple moving average of $42.36. The firm has a market cap of $144.94 billion, a PE ratio of 87.90, a PEG ratio of 3.07 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Equities analysts forecast that Intel Co. will post 0.61 EPS for the current year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, February 6th. Intel’s payout ratio is 128.21%.

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.