Intel (NASDAQ:INTC) Shares Down 1.8% Following Analyst Downgrade

Shares of Intel Co. (NASDAQ:INTC) were down 1.8% during mid-day trading on Monday 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 $18.75 and last traded at $18.81. Approximately 15,157,444 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 53,044,270 shares. The stock had previously closed at $19.15.

A number of other research firms have also issued reports on INTC. Deutsche Bank Aktiengesellschaft dropped their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Bank of America reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $29.96.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was 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 available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of hedge funds have recently added to or reduced their stakes in INTC. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel in the second quarter worth approximately $27,000. Quest Partners LLC raised its stake in Intel by 7,370.6% during the third 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 period. FSA Wealth Management LLC purchased a new position in Intel during the third quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new position in shares of Intel in the 3rd quarter valued at $36,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Intel during the 4th quarter valued at $31,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm has a market capitalization of $82.81 billion, a price-to-earnings ratio of -5.16 and a beta of 1.07. The business has a fifty day moving average price of $21.89 and a 200 day moving average price of $23.49.

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