Intel (NASDAQ:INTC) Stock Price Down 1.8% After Analyst Downgrade

Intel Co. (NASDAQ:INTC) shares dropped 1.8% 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 trading, a decline of 71% from the average daily volume of 53,044,270 shares. The stock had previously closed at $19.15.

INTC has been the topic of several other reports. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Bank of America reaffirmed an “underperform” rating and set a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Truist Financial upped their price objective on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.96.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intel

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Intel by 224.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after purchasing an additional 7,207,785 shares during the last quarter. State Street Corp boosted its stake in Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Finally, Caxton Associates LP purchased a new stake in Intel during the 2nd quarter valued at about $162,592,000. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

The business’s 50 day simple moving average is $22.03 and its two-hundred day simple moving average is $23.66. The firm has a market capitalization of $81.17 billion, a P/E ratio of -5.06 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.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Intel’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal 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.