Intel (INTC) Shares Gap Down Following Analyst Downgrade

Intel Co. (NASDAQ:INTC) gapped down before the market opened on Monday after Needham & Company LLC lowered their price target on the stock from $62.00 to $60.00. The stock had previously closed at $53.83, but opened at $52.50. Needham & Company LLC currently has a buy rating on the stock. Intel shares last traded at $50.71, with a volume of 45326168 shares traded.

Other equities research analysts have also recently issued research reports about the stock. Vetr cut shares of Intel from a “buy” rating to a “hold” rating and set a $54.70 price objective on the stock. in a research note on Wednesday, April 18th. Stifel Nicolaus raised their price objective on shares of Intel from $57.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday. Robert W. Baird reissued a “buy” rating and issued a $62.00 price target on shares of Intel in a research note on Monday, March 26th. Sanford C. Bernstein reissued a “sell” rating and issued a $38.00 price target on shares of Intel in a research note on Tuesday, April 24th. Finally, Argus lifted their price target on shares of Intel to $65.00 and gave the company a “buy” rating in a research note on Monday, April 30th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. Intel currently has a consensus rating of “Buy” and a consensus target price of $55.65.

In related news, EVP Navin Shenoy sold 498 shares of the business’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $52.31, for a total value of $26,050.38. Following the sale, the executive vice president now directly owns 30,502 shares in the company, valued at approximately $1,595,559.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian M. Krzanich sold 6,746 shares of the business’s stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $52.52, for a total transaction of $354,299.92. Following the completion of the sale, the chief executive officer now owns 264,084 shares in the company, valued at $13,869,691.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,192 shares of company stock worth $693,559. 0.03% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Goodman Financial Corp acquired a new position in Intel in the 4th quarter valued at about $102,000. Virtue Capital Management LLC acquired a new position in Intel in the 4th quarter valued at about $109,000. Elmwood Wealth Management Inc. acquired a new position in Intel in the 1st quarter valued at about $110,000. Financial Gravity Wealth Inc. acquired a new position in Intel in the 1st quarter valued at about $120,000. Finally, Delphi Private Advisors LLC grew its position in Intel by 286.1% in the 4th quarter. Delphi Private Advisors LLC now owns 2,911 shares of the chip maker’s stock valued at $134,000 after acquiring an additional 2,157 shares in the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.

The stock has a market cap of $245.61 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.60 and a beta of 0.95. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.35.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, April 26th. The chip maker reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.15. Intel had a return on equity of 25.41% and a net margin of 17.32%. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the company posted $0.66 EPS. Intel’s revenue was up 8.8% compared to the same quarter last year. research analysts predict that Intel Co. will post 3.99 EPS for the current year.

About Intel

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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