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

Intel Co. (NASDAQ:INTC) shares were down 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. Approximately 7,246,231 shares traded hands during trading, a decline of 84% from the average daily volume of 46,672,590 shares. The stock had previously closed at $36.31.

INTC has been the topic of a number of other reports. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Evercore ISI initiated coverage on Intel in a research note on Tuesday. They set an “in-line” rating and a $40.00 price objective on the stock. Citigroup decreased their target price on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research note on Monday. Wedbush reaffirmed a “neutral” rating and set a $40.00 price target on shares of Intel in a research report on Wednesday. Finally, Bank of America cut their price objective on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $42.62.

Insider Activity

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

Hedge Funds Weigh In On Intel

A number of institutional investors have recently modified their holdings of INTC. Barrett & Company Inc. lifted its position in Intel by 6.1% during the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after buying an additional 210 shares during the period. Revolve Wealth Partners LLC grew its holdings in Intel by 3.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after purchasing an additional 216 shares during the period. New Millennium Group LLC increased its stake in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares in the last quarter. Waldron Private Wealth LLC lifted its holdings in shares of Intel by 0.6% during the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after purchasing an additional 232 shares during the last quarter. Finally, Virtue Capital Management LLC boosted its position in shares of Intel by 3.3% in the 4th quarter. Virtue Capital Management LLC now owns 7,580 shares of the chip maker’s stock worth $355,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Price Performance

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 company has a market cap of $150.86 billion, a PE ratio of 91.49, a P/E/G ratio of 3.21 and a beta of 1.00. The firm has a 50 day moving average of $42.18 and a two-hundred day moving average of $42.35.

Intel (NASDAQ:INTC) last posted 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 net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts predict that Intel Co. will post 0.62 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were issued a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a yield of 1.40%. 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.