Intel (NASDAQ:INTC) Shares Down 1.8% on Analyst Downgrade

Shares of Intel Co. (NASDAQ:INTC - Get Free Report) were down 1.8% during mid-day trading on Monday after Mizuho lowered their price target on the stock from $23.00 to $21.00. Mizuho currently has a neutral rating on the stock. Intel traded as low as $18.75 and last traded at $18.81. Approximately 15,157,444 shares were traded during trading, a decline of 71% from the average daily volume of 53,044,270 shares. The stock had previously closed at $19.15.

Several other research analysts have also issued reports on the stock. Bank of America reissued an "underperform" rating and issued a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. TD Cowen upgraded Intel to a "hold" rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lowered their price target on Intel from $27.00 to $25.00 and set a "hold" rating on the stock in a research report on Thursday, October 3rd. Truist Financial lifted their price objective on Intel from $25.00 to $26.00 and gave the company a "hold" rating in a report on Friday, November 1st. Finally, Robert W. Baird increased their target price on shares of Intel from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $29.96.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.04% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. Geode Capital Management LLC increased its position in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock valued at $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. Primecap Management Co. CA raised its stake in Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker's stock worth $2,410,166,000 after buying an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker's stock worth $1,371,692,000 after acquiring an additional 12,865,308 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker's stock valued at $967,426,000 after acquiring an additional 9,422,136 shares during the period. Institutional investors own 64.53% of the company's stock.

Intel Stock Up 0.3 %

The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $82.81 billion, a P/E ratio of -5.16 and a beta of 1.07. The firm has a fifty day simple moving average of $21.97 and a 200-day simple moving average of $23.58.

Intel (NASDAQ:INTC - Get Free Report) last posted its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the company posted $0.28 earnings per share. Intel's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts expect that Intel Co. will post -0.87 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.