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

Shares of Intel Co. (NASDAQ:INTC - Get Free Report) gapped down before the market opened on Friday after Mizuho lowered their price target on the stock from $23.00 to $22.00. The stock had previously closed at $21.49, but opened at $19.73. Mizuho currently has a neutral rating on the stock. Intel shares last traded at $19.68, with a volume of 40,386,443 shares traded.

Several other brokerages have also recently commented on INTC. Benchmark reiterated a "hold" rating on shares of Intel in a research report on Friday. Roth Mkm reduced their target price on shares of Intel from $25.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Morgan Stanley dropped their price target on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday. Sanford C. Bernstein reduced their price objective on Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research note on Tuesday. Finally, Barclays reaffirmed a "reduce" rating on shares of Intel in a research report on Tuesday. Six analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $22.83.

Institutional Investors Weigh In On Intel

A number of large investors have recently bought and sold shares of INTC. Cornerstone Advisory LLC raised its position in shares of Intel by 4.3% in the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock valued at $198,000 after purchasing an additional 409 shares during the period. Evergreen Capital Management LLC raised its holdings in Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after acquiring an additional 419 shares during the period. Federated Hermes Inc. lifted its position in Intel by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock worth $3,263,000 after acquiring an additional 456 shares during the last quarter. CFM Wealth Partners LLC boosted its holdings in Intel by 4.0% during the fourth quarter. CFM Wealth Partners LLC now owns 13,114 shares of the chip maker's stock valued at $263,000 after acquiring an additional 500 shares during the period. Finally, Ausdal Financial Partners Inc. grew its position in shares of Intel by 2.0% in the fourth quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker's stock valued at $501,000 after purchasing an additional 500 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Down 6.7 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The firm has a market capitalization of $87.43 billion, a P/E ratio of -4.58 and a beta of 1.13. The business has a 50 day moving average price of $21.92 and a 200 day moving average price of $21.86.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping the consensus estimate 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 company had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same period in the previous year, the business posted $0.18 EPS. On average, analysts predict 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.