Intel (NASDAQ:INTC) Stock Price Down 4.3% on Analyst Downgrade

Intel Co. (NASDAQ:INTC) dropped 4.3% during trading on Friday after Mizuho lowered their price target on the stock from $23.00 to $21.00. Mizuho currently has a neutral rating on the stock. Intel traded as low as $18.97 and last traded at $19.02. Approximately 28,138,425 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 51,767,906 shares. The stock had previously closed at $19.88.

A number of other equities research analysts have also issued reports on the stock. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Rosenblatt Securities restated a “sell” rating and set a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Northland Securities reduced their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Robert W. Baird upped their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.96.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Intel

Large investors have recently made changes to their positions in the company. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $27,000. Quest Partners LLC boosted its stake in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares during the period. Groupama Asset Managment boosted its stake in Intel by 6.3% during the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock worth $32,000 after purchasing an additional 8,084 shares during the period. FSA Wealth Management LLC acquired a new position in Intel in the third quarter valued at $34,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of Intel in the second quarter valued at about $35,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Down 3.7 %

The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average price is $22.03 and its 200 day moving average price is $23.71. The firm has a market capitalization of $82.59 billion, a PE ratio of -5.15 and a beta of 1.07.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. On average, equities research analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal 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.