Intel (NASDAQ:INTC) Trading Down 1% on Analyst Downgrade

Intel Co. (NASDAQ:INTC) fell 1% on Wednesday after Susquehanna lowered their price target on the stock from $42.00 to $40.00. Susquehanna currently has a neutral rating on the stock. Intel traded as low as $35.78 and last traded at $35.89. 6,983,814 shares were traded during mid-day trading, a decline of 85% from the average session volume of 46,437,496 shares. The stock had previously closed at $36.26.

Several other equities analysts have also recently issued reports on INTC. Bank of America decreased their price objective on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, February 23rd. Wells Fargo & Company decreased their price objective on Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. Benchmark reiterated a “buy” rating and issued a $62.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Finally, UBS Group lifted their price objective on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Four 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.62.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of INTC. Cantor Fitzgerald Investment Advisor L.P grew its holdings in Intel by 173.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock worth $26,761,000 after acquiring an additional 342,649 shares during the period. Axiom Financial Strategies LLC boosted its position in Intel by 21.6% during the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock worth $260,000 after purchasing an additional 1,056 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in Intel during the first quarter worth $142,000. Retirement Income Solutions Inc boosted its position in Intel by 5.1% during the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock worth $314,000 after purchasing an additional 307 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Intel by 26.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock worth $290,593,000 after purchasing an additional 1,244,247 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

The stock has a 50-day simple moving average of $42.03 and a 200 day simple moving average of $42.30. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The company has a market capitalization of $148.15 billion, a PE ratio of 89.85, a P/E/G ratio of 3.20 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The company had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. Intel’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. Equities analysts anticipate that Intel Co. will post 0.61 EPS for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.43%. Intel’s dividend payout ratio is currently 128.21%.

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.