Intel (NASDAQ:INTC) Trading Down 3% on Analyst Downgrade

Intel Co. (NASDAQ:INTC)’s share price fell 3% during trading on Wednesday after Susquehanna lowered their price target on the stock from $24.00 to $22.00. Susquehanna currently has a neutral rating on the stock. Intel traded as low as $19.10 and last traded at $19.26. 21,566,232 shares were traded during mid-day trading, a decline of 72% from the average session volume of 77,834,861 shares. The stock had previously closed at $19.85.

A number of other research firms have also recently weighed in on INTC. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Monday. Truist Financial cut their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Mizuho dropped their target price on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.38.

Institutional Investors Weigh In On Intel

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

Intel Stock Performance

The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a market cap of $83.85 billion, a PE ratio of -4.39 and a beta of 1.13. The firm’s 50-day simple moving average is $22.39 and its two-hundred day simple moving average is $22.02.

Intel (NASDAQ:INTC) last announced 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%. As a group, research analysts anticipate that Intel Co. will post -0.11 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.