Intel (NASDAQ:INTC) Trading Down 1.7% on Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s share price was down 1.7% on Monday after Wells Fargo & Company lowered their price target on the stock from $43.00 to $38.00. Wells Fargo & Company currently has an equal weight rating on the stock. Intel traded as low as $31.07 and last traded at $31.35. Approximately 18,017,859 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 47,740,711 shares. The stock had previously closed at $31.88.

Other research analysts have also issued reports about the stock. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Friday. HSBC decreased their target price on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Raymond James reduced their price objective on Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. TD Cowen lowered their target price on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a report on Friday. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus target price of $39.75.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Intel

Several large investors have recently bought and sold shares of INTC. Slow Capital Inc. lifted its position in shares of Intel by 0.9% during the 4th quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock worth $2,749,000 after purchasing an additional 508 shares during the last quarter. Altus Wealth Group LLC raised its position in shares of Intel by 29.4% during the 4th quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock worth $1,272,000 after acquiring an additional 5,759 shares in the last quarter. Alera Investment Advisors LLC purchased a new stake in Intel during the fourth quarter worth approximately $201,000. Callan Capital LLC boosted its holdings in Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after purchasing an additional 1,474 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors increased its stake in Intel by 1.3% in the third quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock valued at $1,613,000 after purchasing an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Down 1.2 %

The firm’s 50-day moving average price is $40.88 and its two-hundred day moving average price is $42.30. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market cap of $133.14 billion, a PE ratio of 32.66, a P/E/G ratio of 2.89 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.19%. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the previous year, the company earned $0.10 earnings per share. Intel’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts expect that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.59%. Intel’s dividend payout ratio is presently 52.08%.

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.