Intel (NASDAQ:INTC) Shares Down 0.5% After Analyst Downgrade

Shares of Intel Co. (NASDAQ:INTC) dropped 0.5% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $47.50 to $40.00. Citigroup currently has a neutral rating on the stock. Intel traded as low as $35.76 and last traded at $36.12. Approximately 7,246,231 shares changed hands during trading, a decline of 84% from the average daily volume of 46,672,590 shares. The stock had previously closed at $36.31.

Several other analysts also recently weighed in on INTC. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Friday, February 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Bank of America cut their price objective on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Susquehanna reiterated a “neutral” rating and set a $42.00 price target on shares of Intel in a report on Thursday, April 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 26th. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $42.69.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were bought 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Patrick P. Gelsinger acquired 3,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, 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 Trading of Intel

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Intel by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares in the last quarter. State Street Corp boosted its stake in Intel by 0.8% in the first quarter. State Street Corp now owns 179,319,417 shares of the chip maker’s stock valued at $5,858,347,000 after acquiring an additional 1,447,881 shares during the last quarter. Capital International Investors boosted its stake in Intel by 0.3% in the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after acquiring an additional 318,495 shares during the last quarter. Primecap Management Co. CA boosted its stake in Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after acquiring an additional 475,636 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Intel by 29.8% in the fourth quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock worth $1,409,835,000 after purchasing an additional 12,241,200 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Trading Down 0.1 %

The company’s fifty day simple moving average is $42.32 and its two-hundred day simple moving average is $42.40. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $153.31 billion, a price-to-earnings ratio of 92.98, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. During the same period in the previous year, the business earned $0.10 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. Research analysts forecast that Intel Co. will post 0.62 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s payout ratio is 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.