Intel (NASDAQ:INTC) PT Lowered to $38.00

Intel (NASDAQ:INTC) had its target price reduced by equities research analysts at Wells Fargo & Company from $43.00 to $38.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the chip maker’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 19.20% from the stock’s previous close.

Several other analysts have also weighed in on the company. UBS Group upped their price objective on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday. Truist Financial cut their price objective on Intel from $45.00 to $33.00 and set a “hold” rating for the company in a report on Friday. Sanford C. Bernstein cut their price objective on Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a report on Friday. Finally, Barclays cut their target price on Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $39.75.

Intel Trading Down 9.2 %

Shares of INTC stock opened at $31.88 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. Intel has a 1 year low of $26.85 and a 1 year high of $51.28. The stock has a fifty day moving average of $40.88 and a two-hundred day moving average of $42.27. The firm has a market capitalization of $134.79 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, research analysts expect that Intel will post 0.6 EPS for the current year.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired 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 owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Intel

Several hedge funds have recently added to or reduced their stakes in the business. Barrett & Company Inc. boosted its stake in Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after purchasing an additional 210 shares during the period. Revolve Wealth Partners LLC raised its holdings in Intel by 3.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after acquiring an additional 216 shares in the last quarter. New Millennium Group LLC raised its holdings in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares in the last quarter. Waldron Private Wealth LLC raised its holdings in Intel by 0.6% in the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares in the last quarter. Finally, Spreng Capital Management Inc. raised its holdings in Intel by 1.3% in the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $987,000 after acquiring an additional 246 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

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.