Intel (NASDAQ:INTC) Stock Price Down 6.6% After Analyst Downgrade

Intel Co. (NASDAQ:INTC - Get Free Report)'s share price fell 6.6% on Friday after Mizuho lowered their price target on the stock from $23.00 to $22.00. Mizuho currently has a neutral rating on the stock. Intel traded as low as $19.34 and last traded at $20.07. 71,052,474 shares were traded during mid-day trading, a decline of 10% from the average session volume of 79,301,326 shares. The stock had previously closed at $21.49.

A number of other equities analysts have also commented on INTC. Citigroup reduced their price objective on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley dropped their price objective on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Friday. Barclays reissued a "reduce" rating on shares of Intel in a research note on Tuesday, April 22nd. UBS Group lowered their price objective on Intel from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Rosenblatt Securities cut their target price on shares of Intel from $18.00 to $14.00 and set a "sell" rating on the stock in a research report on Friday. Five research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Intel currently has an average rating of "Hold" and an average target price of $22.23.

Institutional Trading of Intel

A number of hedge funds have recently made changes to their positions in INTC. Finley Financial LLC purchased a new stake in Intel in the fourth quarter worth approximately $25,000. Synergy Investment Management LLC purchased a new position in Intel during the 4th quarter valued at approximately $27,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Intel during the 4th quarter valued at about $27,000. BankPlus Trust Department purchased a new stake in Intel during the 4th quarter valued at $28,000. Finally, Keystone Financial Group Inc. bought a new stake in shares of Intel during the 4th quarter worth approximately $29,000. 64.53% of the stock is owned by institutional investors.

Intel Price Performance

The firm has a market capitalization of $88.69 billion, a P/E ratio of -4.64 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 50 day simple moving average is $21.82 and its 200 day simple moving average is $21.83.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. The firm had revenue of $12.67 billion during the quarter, compared to analysts' expectations of $12.26 billion. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. As a group, analysts expect that Intel Co. will post -0.11 earnings per share 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.