Intel (NASDAQ:INTC) Stock Price Down 9.5% After Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s stock price fell 9.5% on Friday after Wells Fargo & Company lowered their price target on the stock from $43.00 to $38.00. Wells Fargo & Company currently has an equal weight rating on the stock. Intel traded as low as $30.64 and last traded at $31.77. 54,956,286 shares were traded during mid-day trading, an increase of 16% from the average session volume of 47,271,449 shares. The stock had previously closed at $35.11.

Several other research firms have also recently commented on INTC. Bank of America decreased their target price on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Wedbush decreased their target price on Intel from $40.00 to $32.50 and set a “neutral” rating for the company in a research note on Friday. HSBC reduced their price objective on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Finally, UBS Group raised their price objective on 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 assigned a buy rating to the stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and an average price target of $39.75.

Insider Transactions at Intel

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

Institutional Inflows and Outflows

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

Intel Price Performance

The stock has a market cap of $134.79 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. The firm has a 50-day moving average price of $40.88 and a 200-day moving average price of $42.27. 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 posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. The company had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. On average, analysts forecast that Intel Co. will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. Intel’s payout ratio is currently 52.08%.

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.