Intel (NASDAQ:INTC) Stock Price Down 0.2% After Analyst Downgrade

Intel Co. (NASDAQ:INTC) traded down 0.2% 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. 9,907,040 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 46,423,176 shares. The stock had previously closed at $34.41.

A number of other equities analysts also recently commented on INTC. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Citigroup reduced their price objective on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Evercore ISI assumed coverage on Intel in a research report on Tuesday, April 16th. They set an “in-line” rating and a $40.00 price objective on the stock. Barclays lifted their price objective on Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group lifted their target price on Intel from $34.00 to $39.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and an average price target of $42.38.

Insider Buying and Selling

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

Institutional Trading of Intel

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after purchasing an additional 4,678,169 shares during the last quarter. Capital International Investors lifted its holdings in shares of Intel by 0.3% in the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after purchasing an additional 318,495 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after purchasing an additional 475,636 shares during the last quarter. Norges Bank purchased a new stake in shares of Intel in the 4th quarter valued at about $2,424,202,000. Finally, Northern Trust Corp raised its stake in Intel by 3.7% during the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after acquiring an additional 1,626,127 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Up 0.6 %

The business has a 50-day simple moving average of $41.29 and a two-hundred day simple moving average of $42.30. 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 market capitalization of $145.87 billion, a price-to-earnings ratio of 88.46, a PEG ratio of 3.09 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping 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 business had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. During the same period in the prior year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Intel Co. will post 0.61 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.