Intel (NASDAQ:INTC) Shares Down 0.5% Following Analyst Downgrade

Intel Co. (NASDAQ:INTC) fell 0.5% on Tuesday after Susquehanna lowered their price target on the stock from $42.00 to $40.00. Susquehanna currently has a neutral rating on the stock. Intel traded as low as $35.76 and last traded at $36.12. 7,246,231 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 46,672,590 shares. The stock had previously closed at $36.31.

Several other analysts have also commented on INTC. HSBC cut their target price on shares of Intel from $46.00 to $44.00 and set a “hold” rating for the company in a research note on Friday, January 26th. TD Cowen cut their price objective on Intel from $45.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. The Goldman Sachs Group lifted their target price on Intel from $34.00 to $39.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Morgan Stanley boosted their target price on Intel from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price target 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.62.

Insider Activity

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

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Red Door Wealth Management LLC lifted its stake in shares of Intel by 7.7% in the first quarter. Red Door Wealth Management LLC now owns 111,514 shares of the chip maker’s stock worth $4,926,000 after buying an additional 7,978 shares during the last quarter. Avalon Capital Management lifted its position in Intel by 10.4% during the 1st quarter. Avalon Capital Management now owns 11,665 shares of the chip maker’s stock worth $515,000 after acquiring an additional 1,100 shares during the last quarter. Cornerstone Wealth Group LLC boosted its holdings in Intel by 44.0% during the first quarter. Cornerstone Wealth Group LLC now owns 31,853 shares of the chip maker’s stock valued at $1,407,000 after acquiring an additional 9,734 shares during the period. New Mexico Educational Retirement Board grew its position in shares of Intel by 9.1% in the first quarter. New Mexico Educational Retirement Board now owns 236,770 shares of the chip maker’s stock valued at $10,458,000 after purchasing an additional 19,700 shares during the last quarter. Finally, Founders Financial Securities LLC increased its stake in shares of Intel by 9.5% in the first quarter. Founders Financial Securities LLC now owns 35,381 shares of the chip maker’s stock worth $1,563,000 after purchasing an additional 3,079 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Down 1.6 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The business has a fifty day moving average price of $42.18 and a 200 day moving average price of $42.35. The company has a market capitalization of $150.86 billion, a price-to-earnings ratio of 91.49, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. On average, equities analysts expect that Intel Co. will post 0.62 EPS for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s dividend payout ratio is 128.21%.

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.