Intel (NASDAQ:INTC) Stock Price Down 9.5% After Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s stock price fell 9.5% during mid-day trading on Friday after Wells Fargo & Company lowered their price target on the stock from $43.00 to $38.00. Wells Fargo & Company currently has an equal weight rating on the stock. Intel traded as low as $30.64 and last traded at $31.77. 54,956,286 shares were traded during trading, an increase of 16% from the average session volume of 47,271,449 shares. The stock had previously closed at $35.11.

Several other research analysts have also recently commented on INTC. Truist Financial reduced their target price on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a report on Friday. Barclays decreased their price objective on Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday. Benchmark reiterated a “buy” rating and set a $62.00 target price on shares of Intel in a report on Wednesday, April 3rd. Susquehanna decreased their price target on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday. Finally, HSBC lowered their price target on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $39.75.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was bought at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the transaction, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were bought 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 owns 28,475 shares of the company’s stock, valued at $1,234,676. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently modified their holdings of the business. New Millennium Group LLC lifted its holdings in shares of Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in Intel in the 4th quarter valued at approximately $27,000. Burkett Financial Services LLC acquired a new stake in Intel in the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC bought a new stake in shares of Intel during the first quarter worth $27,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Intel during the third quarter worth $30,000. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

The company has a market cap of $134.79 billion, a price-to-earnings ratio of 81.75, a P/E/G ratio of 3.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The company has a fifty day moving average of $40.88 and a two-hundred day moving average of $42.23.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.16 billion. During the same period last year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts anticipate that Intel Co. will post 0.6 EPS for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s 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.