Intel (NASDAQ:INTC) Stock Price Down 2.3% on Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s stock price was down 2.3% during trading on Monday after Northland Securities lowered their price target on the stock from $42.00 to $28.00. Northland Securities currently has an outperform rating on the stock. Intel traded as low as $22.00 and last traded at $22.67. Approximately 29,635,396 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 59,248,055 shares. The stock had previously closed at $23.20.

A number of other analysts have also weighed in on the company. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Wedbush dropped their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Susquehanna cut their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.12.

Institutional Investors Weigh In On Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in INTC. America First Investment Advisors LLC purchased a new position in Intel in the second quarter valued at $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the 2nd quarter worth about $27,000. Spartan Fund Management Inc. purchased a new position in Intel during the second quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new stake in Intel in the second quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Intel in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Up 3.6 %

The stock has a market cap of $99.72 billion, a PE ratio of -6.27 and a beta of 1.03. The business has a 50-day moving average price of $21.90 and a 200-day moving average price of $26.73. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the company earned $0.28 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts forecast that Intel Co. will post -0.47 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.