Intel (NASDAQ:INTC) Trading Down 4.3% After Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s stock price fell 4.3% during mid-day trading on Friday after Mizuho lowered their price target on the stock from $23.00 to $21.00. Mizuho currently has a neutral rating on the stock. Intel traded as low as $18.97 and last traded at $19.02. 28,138,425 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 51,767,906 shares. The stock had previously closed at $19.88.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Truist Financial increased their price objective on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.96.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cyrus J. Lawrence LLC bought a new position in shares of Intel in the second quarter worth about $27,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Intel in the second quarter valued at approximately $35,000. Quest Partners LLC raised its position in Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares during the last quarter. FSA Wealth Management LLC acquired a new position in Intel during the 3rd quarter worth $34,000. Finally, Capital Performance Advisors LLP bought a new position in Intel in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Price Performance

The company has a market capitalization of $82.59 billion, a price-to-earnings ratio of -5.15 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $22.03 and a 200 day moving average price of $23.71.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the previous year, the business earned $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

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.