Intel (NASDAQ:INTC) Trading Down 0.2% Following Analyst Downgrade

Intel Co. (NASDAQ:INTC) dropped 0.2% during trading on Tuesday after HSBC lowered their price target on the stock from $44.00 to $37.00. HSBC currently has a hold rating on the stock. Intel traded as low as $34.18 and last traded at $34.33. Approximately 9,907,040 shares traded hands during trading, a decline of 79% from the average daily volume of 46,423,176 shares. The stock had previously closed at $34.41.

Other analysts have also recently issued reports about the company. Stifel Nicolaus restated a “hold” rating and set a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Morgan Stanley upped their target price on Intel from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Truist Financial reiterated a “hold” rating and issued a $45.00 target price on shares of Intel in a report on Wednesday, April 3rd. Evercore ISI assumed coverage on Intel in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $40.00 price target on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.38.

Insider Buying and Selling at Intel

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

Institutional Investors Weigh In On Intel

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Intel during the 4th quarter valued at about $2,424,202,000. Price T Rowe Associates Inc. MD grew its holdings in Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares in the last quarter. California Public Employees Retirement System grew its holdings in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after buying an additional 8,140,835 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Intel by 18.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after buying an additional 6,064,950 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after buying an additional 5,217,549 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Up 0.1 %

The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The firm has a market cap of $145.61 billion, a PE ratio of 88.03, a price-to-earnings-growth ratio of 3.07 and a beta of 1.00. The stock has a fifty day simple moving average of $41.66 and a two-hundred day simple moving average of $42.37.

Intel (NASDAQ:INTC) last posted its 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. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. As a group, sell-side analysts expect that Intel Co. will post 0.61 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. Intel’s dividend payout ratio (DPR) is presently 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.