Intel (NASDAQ:INTC) Stock Gets Price Target Trim from Bank of America

Intel (NASDAQ:INTC) had its target price trimmed by Bank of America from $100.00 to $80.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the chip maker’s stock.

A number of other research firms have also commented on INTC. Truist Financial reduced their price objective on Intel from $108.00 to $72.00 and set a “hold” rating on the stock in a research note on Friday, October 30th. HSBC reaffirmed a “buy” rating on shares of Intel in a research note on Friday, July 24th. Cantor Fitzgerald reduced their price objective on Intel from $125.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Morgan Stanley set a $85.00 price objective on Intel in a research report on Monday, October 19th. Finally, Robert W. Baird set a $83.00 target price on Intel in a research note on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twenty-eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $96.93.

Intel Price Performance

Shares of NASDAQ INTC traded down $1.54 during mid-day trading on Thursday, hitting $59.66. 102,211,925 shares of the stock were exchanged, compared to its average volume of 146,395,888. Intel has a twelve month low of $32.89 and a twelve month high of $142.35. The stock’s fifty day simple moving average is $94.97 and its two-hundred day simple moving average is $86.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.95 and a current ratio of 2.31. The company has a market cap of $317.09 billion, a P/E ratio of -24.76, a PEG ratio of 6.55 and a beta of 2.42.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 29th. The chip maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.41 by $0.11. The business had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.56 billion. Intel had a positive return on equity of 4.70% and a negative net margin of 20.09%. Intel’s revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 EPS. As a group, analysts forecast that Intel will post 1.04 EPS for the current fiscal year.

Insider Transactions at Intel

In other Intel news, CEO Lip Tan bought 150,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was acquired at an average cost of $64.73 per share, with a total value of $9,709,500.00. Following the purchase, the chief executive officer owned 1,464,669 shares in the company, valued at $94,808,024.37. This trade represents a 11.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cornermen Financial LLC acquired a new position in Intel in the 3rd quarter worth $2,038,000. Medallion Wealth Advisors LLC raised its stake in shares of Intel by 21.6% in the 3rd quarter. Medallion Wealth Advisors LLC now owns 7,048 shares of the chip maker’s stock valued at $847,000 after purchasing an additional 1,250 shares during the period. Octavia Wealth Advisors LLC raised its stake in shares of Intel by 44.4% in the 3rd quarter. Octavia Wealth Advisors LLC now owns 4,154 shares of the chip maker’s stock valued at $499,000 after purchasing an additional 1,277 shares during the period. Empowered Funds LLC lifted its holdings in shares of Intel by 35.5% in the third quarter. Empowered Funds LLC now owns 671,275 shares of the chip maker’s stock valued at $80,707,000 after purchasing an additional 176,047 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in shares of Intel in the third quarter valued at about $61,464,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Top Intel Stories

Investors following INTC have been watching these stories:

• Positive Sentiment: Intel drew about $79 million in net ETF buying on Nov. 11, with 54 ETFs adding shares and 11 selling—a source of buying interest amid recent volatility. Article: Intel sees ETF buying
• Positive Sentiment: Intel and RadixArk announced work to optimize open-source SGLang inference on Intel platforms, a move aimed at improving developer choice and performance for AI workloads. Article: Intel and RadixArk collaboration
• Negative Sentiment: Some analysts and commentators remain cautious: one article argues AMD has stronger prospects and a more attractive valuation, while another recommends waiting for Intel’s fourth-quarter results. These concerns add to scrutiny of Intel’s valuation and turnaround execution. Article: AMD or Intel Article: Waiting for Intel’s Q4 numbers

Intel Company Profile

Intel Corporation is a semiconductor company that designs and manufactures processors and related technologies. Its products include central processing units for personal computers and servers, graphics and AI accelerators, and platforms and components for data center, networking, and edge computing applications. The company also operates Intel Foundry, which provides semiconductor manufacturing, packaging, and related services for Intel and external customers. Intel serves customers and businesses around the world through its products, technologies, and manufacturing operations.