Intel (NASDAQ:INTC) Trading Down 2.6% Following Analyst Downgrade

Intel Co. (NASDAQ:INTC - Get Free Report)'s share price was down 2.6% on Thursday after Susquehanna lowered their price target on the stock from $24.00 to $22.00. Susquehanna currently has a neutral rating on the stock. Intel traded as low as $18.62 and last traded at $18.73. 28,644,253 shares traded hands during trading, a decline of 63% from the average session volume of 78,108,002 shares. The stock had previously closed at $19.23.

Several other brokerages have also commented on INTC. Cantor Fitzgerald increased their price objective on Intel from $22.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, February 18th. Citigroup dropped their price target on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lowered their target price on shares of Intel from $26.00 to $23.00 and set an "underweight" rating for the company in a research note on Friday, January 31st. UBS Group cut their target price on Intel from $23.00 to $22.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, HSBC raised Intel from a "reduce" rating to a "hold" rating in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $25.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Relyea Zuckerberg Hanson LLC increased its holdings in Intel by 211.6% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker's stock valued at $579,000 after buying an additional 19,625 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock worth $113,244,000 after purchasing an additional 204,200 shares during the period. Empirical Asset Management LLC purchased a new stake in shares of Intel in the fourth quarter valued at about $276,000. InvesTrust purchased a new stake in Intel in the 4th quarter valued at approximately $3,696,000. Finally, Rheos Capital Works Inc. grew its holdings in Intel by 12.1% during the fourth quarter. Rheos Capital Works Inc. now owns 277,000 shares of the chip maker's stock worth $5,554,000 after acquiring an additional 30,000 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

The firm has a market cap of $82.55 billion, a PE ratio of -4.32 and a beta of 1.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The stock's fifty day moving average price is $22.34 and its 200-day moving average price is $21.96.

Intel (NASDAQ:INTC - Get Free Report) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. As a group, equities analysts forecast that Intel Co. will post -0.11 EPS for the current fiscal year.

Intel Company Profile

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.