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

Intel Co. (NASDAQ:INTC)’s share price fell 2.6% during mid-day trading on Thursday 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 $18.62 and last traded at $18.73. 28,644,253 shares changed hands during trading, a decline of 63% from the average session volume of 78,108,002 shares. The stock had previously closed at $19.23.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus decreased their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company dropped their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Truist Financial reduced their price target on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. HSBC raised Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Monday, April 14th. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.38.

Institutional Investors Weigh In On Intel

A number of institutional investors have recently made changes to their positions in the stock. Relyea Zuckerberg Hanson LLC lifted its position in shares of Intel by 211.6% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after purchasing an additional 19,625 shares during the period. Principal Financial Group Inc. grew its holdings in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after acquiring an additional 204,200 shares during the period. Empirical Asset Management LLC bought a new stake in shares of Intel during the 4th quarter valued at about $276,000. InvesTrust bought a new stake in Intel in the fourth quarter worth approximately $3,696,000. Finally, Rheos Capital Works Inc. lifted its stake in Intel by 12.1% in the fourth quarter. Rheos Capital Works Inc. now owns 277,000 shares of the chip maker’s stock valued at $5,554,000 after buying an additional 30,000 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 1.6 %

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 firm’s 50-day moving average price is $22.34 and its 200 day moving average price is $21.96. The company has a market cap of $82.55 billion, a price-to-earnings ratio of -4.32 and a beta of 1.13.

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