Intel (NASDAQ:INTC) Shares Gap Down Following Analyst Downgrade

Intel Co. (NASDAQ:INTC) gapped down before the market opened on Friday after Wells Fargo & Company lowered their price target on the stock from $43.00 to $38.00. The stock had previously closed at $35.11, but opened at $31.78. Wells Fargo & Company currently has an equal weight rating on the stock. Intel shares last traded at $31.42, with a volume of 35,288,315 shares.

A number of other equities research analysts have also recently issued reports on INTC. Barclays reduced their price objective on Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday. Sanford C. Bernstein reduced their price target on Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research note on Friday. Susquehanna lowered their price objective on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday. Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Intel in a report on Wednesday, April 3rd. Finally, UBS Group upped their price target on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.75.

Insider Activity at Intel

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

Institutional Trading of Intel

Several institutional investors have recently modified their holdings of INTC. New Millennium Group LLC increased its stake in shares of Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the period. Frazier Financial Advisors LLC acquired a new stake in Intel during the 4th quarter valued at approximately $27,000. Burkett Financial Services LLC bought a new position in Intel during the 4th quarter worth approximately $27,000. Tributary Capital Management LLC bought a new position in Intel during the 1st quarter worth approximately $27,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Intel in the 3rd quarter worth approximately $30,000. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

The stock’s 50 day moving average price is $40.88 and its 200 day moving average price is $42.23. The company has a market capitalization of $134.79 billion, a P/E ratio of 81.75, a price-to-earnings-growth ratio of 3.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts expect that Intel Co. will post 0.6 EPS for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. Intel’s dividend payout ratio is currently 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.