Intel (NASDAQ:INTC) Stock Price Down 1.7% After Analyst Downgrade

Intel Co. (NASDAQ:INTC - Get Free Report)'s stock price dropped 1.7% on Monday after Wells Fargo & Company lowered their price target on the stock from $43.00 to $38.00. Wells Fargo & Company currently has an equal weight rating on the stock. Intel traded as low as $31.07 and last traded at $31.35. Approximately 18,017,859 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 47,740,711 shares. The stock had previously closed at $31.88.

INTC has been the topic of several other reports. Evercore ISI decreased their price objective on shares of Intel from $40.00 to $36.00 and set an "in-line" rating on the stock in a report on Friday. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $50.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Benchmark reissued a "buy" rating and issued a $62.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Mizuho decreased their price target on shares of Intel from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Roth Mkm decreased their price target on shares of Intel from $45.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $39.75.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The shares were bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intel

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker's stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares during the last quarter. Capital International Investors lifted its holdings in Intel by 0.3% in the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker's stock worth $4,855,099,000 after purchasing an additional 318,495 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Intel by 0.6% during the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker's stock worth $3,780,706,000 after buying an additional 475,636 shares during the last quarter. Norges Bank acquired a new position in shares of Intel during the fourth quarter worth approximately $2,424,202,000. Finally, Northern Trust Corp lifted its holdings in shares of Intel by 3.7% during the third quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker's stock worth $1,635,434,000 after buying an additional 1,626,127 shares during the last quarter. Institutional investors own 64.53% of the company's stock.

Intel Trading Down 1.6 %

The company has a market capitalization of $132.59 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. The business has a fifty day moving average price of $40.63 and a 200 day moving average price of $42.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel (NASDAQ:INTC - Get Free Report) last issued its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.27. Intel had a return on equity of 2.19% and a net margin of 7.36%. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. During the same period in the prior year, the company posted $0.10 earnings per share. Intel's revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that Intel Co. will post 0.6 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Monday, May 6th. Intel's dividend payout ratio (DPR) is 52.08%.

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.