Intel (NASDAQ:INTC) Price Target Cut to $35.00

Intel (NASDAQ:INTC) had its target price reduced by stock analysts at TD Cowen from $42.00 to $35.00 in a research note issued to investors on Friday, Briefing.com reports. The brokerage currently has a “hold” rating on the chip maker’s stock. TD Cowen’s target price suggests a potential downside of 0.31% from the stock’s current price.

Several other brokerages have also recently commented on INTC. Wells Fargo & Company decreased their target price on shares of Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, April 9th. Morgan Stanley raised their price target on shares of Intel from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Bank of America decreased their price target on shares of Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, April 12th. UBS Group raised their price target on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Intel in a report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $42.14.

Intel Stock Performance

Shares of INTC opened at $35.11 on Friday. Intel has a one year low of $26.85 and a one year high of $51.28. The company has a 50-day moving average of $41.11 and a two-hundred day moving average of $42.25. The stock has a market cap of $148.45 billion, a price-to-earnings ratio of 90.03, a PEG ratio of 3.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same period last year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts expect that Intel will post 0.6 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Intel

Institutional investors have recently bought and sold shares of the business. New Millennium Group LLC boosted its stake in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after buying an additional 231 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in Intel during the fourth quarter worth $27,000. Frazier Financial Advisors LLC acquired a new stake in shares of Intel in the 4th quarter valued at $27,000. Tributary Capital Management LLC acquired a new stake in shares of Intel in the 1st quarter valued at $27,000. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Intel in the 4th quarter valued at $36,000. Institutional investors and hedge funds 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.