Intel (NASDAQ:INTC) Stock Falls 2.1% on Analyst Downgrade

Shares of Intel Corporation (NASDAQ:INTC) traded down 2.1% during trading on Thursday after Bank of America lowered their price target on the stock from $100.00 to $80.00. Bank of America currently has a neutral rating on the stock. Intel traded as low as $59.41 and last traded at $61.20. 78,998,423 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 119,103,180 shares. The stock had previously closed at $62.50.

Other analysts have also issued research reports about the company. Wall Street Zen lowered Intel from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. UBS Group cut Intel from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research note on Friday, October 30th. Barclays upgraded Intel from a “hold” rating to an “overweight” rating in a report on Wednesday, September 16th. Freedom Broker lowered Intel from a “buy” rating to a “hold” rating and decreased their target price for the company from $100.00 to $90.00 in a research report on Friday, October 30th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $100.00 target price on shares of Intel in a report on Sunday, October 25th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twenty-eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $96.93.

Insider Activity at Intel

In other Intel news, CEO Lip Tan purchased 150,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was purchased at an average price of $64.73 per share, with a total value of $9,709,500.00. Following the transaction, the chief executive officer owned 1,464,669 shares of the company’s stock, valued at approximately $94,808,024.37. This trade represents a 11.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.05% of the company’s stock.

More Intel News

These are some of the INTC news items that stood out recently:

• Positive Sentiment: CEO Lip-Bu Tan bought about $9.7 million of Intel shares in an open-market purchase—his second such purchase this year. Insider buying may signal confidence in the turnaround, though it does not guarantee a recovery. Article: After Intel’s Worst Day on Record, CEO Lip-Bu Tan Buys $9.7 Million in Stock
• Negative Sentiment: Bank of America cut its Intel price target from $100 to $80 and maintained a neutral rating, reflecting a more cautious outlook even though the new target remains above the current share price. Article: Bank of America Intel Rating and Price Target
• Negative Sentiment: Intel’s CEO described a potential “healthy pullback” in AI and urged investor discipline. That caution may add to worries about elevated AI expectations and near-term chip-sector volatility. Article: Intel CEO Sees a Healthy Pullback Ahead in the AI Boom

Hedge Funds Weigh In On Intel

Several institutional investors have recently bought and sold shares of INTC. State Street Corp lifted its holdings in Intel by 3.0% during the third quarter. State Street Corp now owns 223,326,623 shares of the chip maker’s stock worth $26,850,560,000 after buying an additional 6,476,948 shares during the period. Primecap Management Co. CA bought a new position in shares of Intel in the 2nd quarter worth $10,507,291,000. Amundi raised its position in shares of Intel by 14.9% in the 1st quarter. Amundi now owns 38,969,192 shares of the chip maker’s stock worth $1,719,710,000 after acquiring an additional 5,045,936 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Intel by 35.7% during the 2nd quarter. Bank of America Corp DE now owns 31,724,362 shares of the chip maker’s stock worth $4,429,673,000 after purchasing an additional 8,342,514 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Intel by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 30,700,929 shares of the chip maker’s stock worth $1,354,832,000 after purchasing an additional 112,054 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Down 2.1%

The business has a 50 day moving average of $96.19 and a two-hundred day moving average of $86.73. The stock has a market capitalization of $325.28 billion, a PE ratio of -25.39, a PEG ratio of 6.22 and a beta of 2.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.95 and a current ratio of 2.31.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 29th. The chip maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.11. Intel had a negative net margin of 20.09% and a positive return on equity of 4.70%. The firm had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.56 billion. During the same quarter in the previous year, the firm earned $0.23 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Analysts predict that Intel Corporation will post 1.04 EPS for the current year.

About Intel

Intel Corporation is a semiconductor company that designs and manufactures processors and related technologies. Its products include central processing units for personal computers and servers, graphics and AI accelerators, and platforms and components for data center, networking, and edge computing applications. The company also operates Intel Foundry, which provides semiconductor manufacturing, packaging, and related services for Intel and external customers. Intel serves customers and businesses around the world through its products, technologies, and manufacturing operations.