Intel (NASDAQ:INTC) PT Lowered to $21.00

Intel (NASDAQ:INTC) had its price target lowered by research analysts at The Goldman Sachs Group from $22.00 to $21.00 in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm presently has a “sell” rating on the chip maker’s stock. The Goldman Sachs Group’s target price indicates a potential downside of 7.77% from the company’s previous close.

Several other analysts have also recently weighed in on the company. TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Truist Financial dropped their price objective on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. HSBC cut Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Finally, Roth Mkm lowered their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.92.

Intel Stock Performance

Intel stock opened at $22.77 on Thursday. The stock has a 50-day simple moving average of $21.40 and a 200 day simple moving average of $28.14. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel has a 12-month low of $18.51 and a 12-month high of $51.28. The stock has a market capitalization of $96.93 billion, a price-to-earnings ratio of 23.72 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) earnings per share. On average, research analysts anticipate that Intel will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Institutional investors and hedge funds have recently made changes to their positions in the stock. America First Investment Advisors LLC bought a new stake in shares of Intel during the 2nd quarter worth approximately $25,000. Tributary Capital Management LLC bought a new stake in shares of Intel during the 1st quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel during the 2nd quarter worth approximately $27,000. Spartan Fund Management Inc. bought a new stake in Intel in the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. bought a new stake in Intel in the 2nd quarter valued at $32,000. Institutional investors own 64.53% of the company’s stock.

Intel Company Profile

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.