Intel (NASDAQ:INTC) Shares Down 3% Following Analyst Downgrade

Intel Co. (NASDAQ:INTC - Get Free Report)'s share price traded down 3% during mid-day trading on Wednesday 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 $19.10 and last traded at $19.26. 21,566,232 shares traded hands during trading, a decline of 72% from the average session volume of 77,834,861 shares. The stock had previously closed at $19.85.

A number of other equities analysts have also recently issued reports on INTC. Citigroup reduced their target price on Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Tuesday, January 21st. UBS Group reduced their price objective on Intel from $23.00 to $22.00 and set a "neutral" rating for the company in a research note on Monday. Barclays lowered their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Stifel Nicolaus reduced their price target on shares of Intel from $25.00 to $21.00 and set a "hold" rating for the company in a research report on Friday, January 31st. Finally, Rosenblatt Securities reaffirmed a "sell" rating and issued a $20.00 price objective on shares of Intel in a research note on Thursday, January 30th. Four 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $25.38.

Hedge Funds Weigh In On Intel

Several institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in Intel during the 4th quarter valued at $1,246,569,000. Two Sigma Advisers LP bought a new position in Intel during the 4th quarter worth about $289,752,000. Assenagon Asset Management S.A. boosted its stake in shares of Intel by 264.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker's stock valued at $393,323,000 after purchasing an additional 14,227,458 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Intel in the 4th quarter worth $237,457,000. Finally, Toronto Dominion Bank lifted its position in shares of Intel by 286.8% during the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock valued at $211,114,000 after buying an additional 7,806,882 shares during the last quarter. Institutional investors own 64.53% of the company's stock.

Intel Trading Down 1.6 %

The company's 50 day simple moving average is $22.34 and its two-hundred day simple moving average is $21.96. The company has a market capitalization of $82.55 billion, a price-to-earnings ratio of -4.32 and a beta of 1.13. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (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, research analysts anticipate that Intel Co. will post -0.11 earnings per share 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.