Intel (NASDAQ:INTC) Shares Down 2.6% After Analyst Downgrade

Intel Co. (NASDAQ:INTC) shares traded down 2.6% during mid-day trading on Monday after Cantor Fitzgerald lowered their price target on the stock from $29.00 to $20.00. Cantor Fitzgerald currently has a neutral rating on the stock. Intel traded as low as $18.51 and last traded at $18.45. 17,660,582 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 78,458,618 shares. The stock had previously closed at $18.93.

Several other equities research analysts also recently weighed in on the stock. Mizuho reduced their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and upped their price target for the company from $19.00 to $25.00 in a report on Thursday, March 13th. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Stifel Nicolaus dropped their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Finally, HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.00.

Institutional Investors Weigh In On Intel

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Finley Financial LLC bought a new stake in shares of Intel in the fourth quarter valued at about $25,000. Synergy Investment Management LLC bought a new stake in shares of Intel in the 4th quarter valued at about $27,000. Vermillion Wealth Management Inc. bought a new position in shares of Intel during the fourth quarter valued at approximately $27,000. BankPlus Trust Department purchased a new position in Intel during the fourth quarter valued at approximately $28,000. Finally, Keystone Financial Group Inc. bought a new position in Intel in the fourth quarter worth approximately $29,000. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

The business has a fifty day simple moving average of $22.34 and a two-hundred day simple moving average of $21.95. The company has a market cap of $80.41 billion, a PE ratio of -4.21 and a beta of 1.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Research analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

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.