Intel (NASDAQ:INTC) Shares Down 6.6% Following Analyst Downgrade

Intel Co. (NASDAQ:INTC - Get Free Report) shares fell 6.6% on Friday after Mizuho lowered their price target on the stock from $23.00 to $22.00. Mizuho currently has a neutral rating on the stock. Intel traded as low as $19.34 and last traded at $20.07. 71,052,474 shares changed hands during trading, a decline of 10% from the average session volume of 79,301,326 shares. The stock had previously closed at $21.49.

Several other equities research analysts also recently issued reports on INTC. Citigroup cut their target price on shares of Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, January 21st. Morgan Stanley decreased their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Intel from $23.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday. Wells Fargo & Company cut their target price on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, UBS Group decreased their target price on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday. Five investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $22.83.

Hedge Funds Weigh In On Intel

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

Intel Stock Down 6.6 %

The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The company's 50 day moving average price is $22.07 and its 200 day moving average price is $21.90. The firm has a market capitalization of $87.54 billion, a price-to-earnings ratio of -4.58 and a beta of 1.13.

Intel (NASDAQ:INTC - Get Free Report) last released its earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The firm had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. As a group, research analysts forecast 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.

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