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

Intel Co. (NASDAQ:INTC) traded down 2.6% on Monday after Cantor Fitzgerald lowered their price target on the stock from $29.00 to $20.00. Cantor Fitzgerald currently has a neutral rating on the stock. Intel traded as low as $18.51 and last traded at $18.45. 17,660,582 shares were traded during mid-day trading, a decline of 77% from the average session volume of 78,458,618 shares. The stock had previously closed at $18.93.

INTC has been the subject of a number of other reports. Truist Financial lowered their target price on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. UBS Group dropped their price objective on shares of Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Stifel Nicolaus reduced their target price on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Monday, April 14th. Four research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after acquiring an additional 6,143,164 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Intel by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after buying an additional 2,978,346 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intel by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock worth $1,268,430,000 after buying an additional 4,793,927 shares in the last quarter. Norges Bank acquired a new position in Intel during the fourth quarter worth about $1,246,569,000. Finally, Northern Trust Corp grew its stake in Intel by 15.5% during the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock valued at $918,522,000 after acquiring an additional 6,157,853 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

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 stock’s fifty day simple moving average is $22.26 and its 200 day simple moving average is $21.93. The company has a market cap of $82.15 billion, a price-to-earnings ratio of -4.30 and a beta of 1.13.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate 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, analysts anticipate that Intel Co. will post -0.11 earnings per share 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.