Intel (INTC) Shares Gap Down After Analyst Downgrade

Intel Co. (NASDAQ:INTC) gapped down before the market opened on Friday after Mizuho lowered their price target on the stock from $58.00 to $56.00. The stock had previously closed at $45.34, but opened at $46.62. Mizuho currently has a buy rating on the stock. Intel shares last traded at $45.75, with a volume of 26169141 shares traded.

Several other equities research analysts have also recently issued reports on INTC. Wells Fargo & Co cut their target price on Intel from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Thursday. Credit Suisse Group set a $58.00 price objective on Intel and gave the company a “buy” rating in a research note on Thursday. ValuEngine cut Intel from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research raised Intel from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Wednesday, March 27th. Finally, BidaskClub raised Intel from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 5th. Seven analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $54.49.

In related news, EVP Steven Ralph Rodgers sold 25,170 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $55.00, for a total transaction of $1,384,350.00. Following the completion of the transaction, the executive vice president now directly owns 48,140 shares of the company’s stock, valued at approximately $2,647,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Navin Shenoy sold 1,254 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $50.80, for a total value of $63,703.20. The disclosure for this sale can be found here. Insiders have sold a total of 100,320 shares of company stock valued at $5,343,843 over the last three months. 0.02% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INTC. Schmidt P J Investment Management Inc. lifted its holdings in shares of Intel by 0.3% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 70,784 shares of the chip maker’s stock valued at $3,801,000 after purchasing an additional 178 shares during the last quarter. Bangor Savings Bank lifted its holdings in shares of Intel by 0.9% in the 1st quarter. Bangor Savings Bank now owns 21,839 shares of the chip maker’s stock valued at $1,173,000 after purchasing an additional 186 shares during the last quarter. Capital Investment Advisory Services LLC lifted its holdings in shares of Intel by 2.0% in the 1st quarter. Capital Investment Advisory Services LLC now owns 9,765 shares of the chip maker’s stock valued at $524,000 after purchasing an additional 188 shares during the last quarter. Unison Advisors LLC lifted its holdings in shares of Intel by 0.6% in the 1st quarter. Unison Advisors LLC now owns 30,096 shares of the chip maker’s stock valued at $1,616,000 after purchasing an additional 189 shares during the last quarter. Finally, Quad Cities Investment Group LLC lifted its holdings in shares of Intel by 9.4% in the 4th quarter. Quad Cities Investment Group LLC now owns 2,353 shares of the chip maker’s stock valued at $110,000 after purchasing an additional 203 shares during the last quarter. 64.80% of the stock is owned by hedge funds and other institutional investors.

The company has a quick ratio of 1.13, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The firm has a market cap of $218.10 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.45 and a beta of 0.75.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, April 25th. The chip maker reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.02. Intel had a return on equity of 29.54% and a net margin of 29.04%. The business had revenue of $16.10 million during the quarter, compared to the consensus estimate of $16.03 billion. During the same period in the previous year, the business earned $0.87 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. Analysts anticipate that Intel Co. will post 4.28 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 2.73%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is presently 27.51%.

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About Intel (NASDAQ:INTC)

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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