Intel (NASDAQ:INTC) Shares Gap Down After Analyst Downgrade

Intel Co. (NASDAQ:INTC) shares gapped down prior to trading on Friday after Barclays lowered their price target on the stock from $44.00 to $40.00. The stock had previously closed at $35.11, but opened at $31.78. Barclays currently has an equal weight rating on the stock. Intel shares last traded at $31.42, with a volume of 35,288,315 shares changing hands.

INTC has been the topic of several other research reports. Susquehanna cut their price target on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday. Raymond James dropped their target price on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Wells Fargo & Company dropped their target price on Intel from $48.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 9th. UBS Group boosted their target price on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, JPMorgan Chase & Co. dropped their target price on Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a report on Friday. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $40.57.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. New Millennium Group LLC boosted its holdings in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in shares of Intel in the 4th quarter worth approximately $27,000. Burkett Financial Services LLC acquired a new position in shares of Intel in the 4th quarter worth approximately $27,000. Tributary Capital Management LLC acquired a new position in shares of Intel in the 1st quarter worth approximately $27,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Intel in the 3rd quarter worth approximately $30,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Down 11.1 %

The firm has a market capitalization of $132.00 billion, a price-to-earnings ratio of 80.05, a P/E/G ratio of 3.13 and a beta of 1.00. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $41.11 and a 200 day moving average price of $42.25.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter in the previous year, the company posted $0.10 EPS. Intel’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts anticipate that Intel Co. will post 0.6 EPS 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.