Intel (NASDAQ:INTC) Shares Down 2.3% After Analyst Downgrade

Intel Co. (NASDAQ:INTC - Get Free Report)'s share price fell 2.3% on Monday after Northland Securities lowered their price target on the stock from $42.00 to $28.00. Northland Securities currently has an outperform rating on the stock. Intel traded as low as $22.00 and last traded at $22.67. 29,635,396 shares were traded during mid-day trading, a decline of 50% from the average session volume of 59,248,055 shares. The stock had previously closed at $23.20.

Several other analysts have also recently weighed in on the stock. Daiwa America upgraded shares of Intel to a "hold" rating in a research note on Monday, August 26th. Raymond James cut shares of Intel from an "outperform" rating to a "market perform" rating in a research note on Friday, August 2nd. Benchmark reiterated a "hold" rating on shares of Intel in a research note on Friday. HSBC cut shares of Intel from a "hold" rating to a "reduce" rating in a research note on Friday, August 2nd. Finally, Wedbush dropped their target price on shares of Intel from $32.50 to $25.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Intel has an average rating of "Hold" and an average target price of $30.12.

Institutional Investors Weigh In On Intel

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Intel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker's stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares during the period. Capital International Investors lifted its position in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker's stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Primecap Management Co. CA lifted its position in shares of Intel by 2.2% in 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 purchasing an additional 1,697,550 shares during the period. Van ECK Associates Corp lifted its position in shares of Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker's stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Intel by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker's stock worth $1,759,811,000 after purchasing an additional 2,457,243 shares during the period. 64.53% of the stock is owned by institutional investors.

Intel Stock Down 2.9 %

The stock has a market cap of $96.30 billion, a price-to-earnings ratio of -6.05 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The stock's 50-day moving average price is $21.84 and its 200-day moving average price is $26.81.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly 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). The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. On average, sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current 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.