Truist Financial Issues Positive Forecast for Intel (NASDAQ:INTC) Stock Price

Intel (NASDAQ:INTC) had its target price hoisted by analysts at Truist Financial from $25.00 to $26.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the chip maker’s stock. Truist Financial’s price target would indicate a potential upside of 12.07% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Barclays lowered their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Morgan Stanley reduced their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Stock Performance

Intel stock opened at $23.20 on Friday. Intel has a 1 year low of $18.51 and a 1 year high of $51.28. The company’s 50-day moving average is $21.79 and its two-hundred day moving average is $26.96. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company has a market cap of $99.20 billion, a PE ratio of -6.24 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.68%. Intel’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) earnings per share. Equities analysts anticipate that Intel will post -0.47 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Intel

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norden Group LLC boosted its stake in shares of Intel by 27.8% during the 1st quarter. Norden Group LLC now owns 14,412 shares of the chip maker’s stock worth $637,000 after acquiring an additional 3,133 shares during the period. Resonant Capital Advisors LLC boosted its position in Intel by 16.6% during the first quarter. Resonant Capital Advisors LLC now owns 10,234 shares of the chip maker’s stock worth $452,000 after purchasing an additional 1,458 shares during the period. StoneX Group Inc. increased its holdings in shares of Intel by 76.5% in the first quarter. StoneX Group Inc. now owns 27,946 shares of the chip maker’s stock valued at $1,234,000 after purchasing an additional 12,111 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Intel by 10.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 105,296 shares of the chip maker’s stock worth $4,651,000 after buying an additional 9,884 shares during the period. Finally, Tobam grew its stake in Intel by 551.6% in the 1st quarter. Tobam now owns 195,096 shares of the chip maker’s stock valued at $8,617,000 after buying an additional 165,156 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

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.