Intel (NASDAQ:INTC) PT Lowered to $34.00 at The Goldman Sachs Group

Intel (NASDAQ:INTC) had its price target reduced by equities researchers at The Goldman Sachs Group from $39.00 to $34.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the chip maker’s stock. The Goldman Sachs Group’s target price would indicate a potential downside of 3.16% from the stock’s current price.

INTC has been the subject of several other reports. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, January 26th. Bank of America decreased their price target on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Evercore ISI started coverage on Intel in a report on Tuesday, April 16th. They set an “in-line” rating and a $40.00 price target for the company. TD Cowen decreased their price target on Intel from $42.00 to $35.00 and set a “hold” rating for the company in a report on Friday. Finally, Wedbush reissued a “neutral” rating and issued a $40.00 target price on shares of Intel in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.62.

Intel Stock Performance

Shares of Intel stock opened at $35.11 on Friday. The firm has a market capitalization of $148.45 billion, a P/E ratio of 90.03, a P/E/G ratio of 3.13 and a beta of 1.00. Intel has a 52 week low of $26.85 and a 52 week high of $51.28. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $41.11 and its two-hundred day moving average is $42.25.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. The company had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. Research analysts forecast that Intel will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Intel

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Barrett & Company Inc. increased its holdings in Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after purchasing an additional 210 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of 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 during the last quarter. New Millennium Group LLC increased its holdings in shares of 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 during the last quarter. Waldron Private Wealth LLC increased its holdings in shares of 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 during the last quarter. Finally, Spreng Capital Management Inc. grew its stake in Intel by 1.3% during the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after buying an additional 246 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.