Intel (NASDAQ:INTC) PT Lowered to $38.00

Intel (NASDAQ:INTC) had its target price dropped by Wells Fargo & Company from $43.00 to $38.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the chip maker’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 20.06% from the company’s previous close.

Several other equities research analysts have also recently commented on INTC. The Goldman Sachs Group cut their price target on shares of Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a research report on Friday. Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Truist Financial decreased their target price on shares of Intel from $45.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday. Wedbush decreased their target price on shares of Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research note on Friday. Finally, Bank of America cut their price target on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.75.

Intel Stock Down 9.9 %

NASDAQ INTC traded down $3.46 during trading on Friday, hitting $31.65. 91,101,109 shares of the company traded hands, compared to its average volume of 47,776,777. Intel has a 12 month low of $26.85 and a 12 month high of $51.28. The business has a fifty day simple moving average of $41.11 and a 200 day simple moving average of $42.25. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $133.82 billion, a P/E ratio of 81.28, a PEG ratio of 3.13 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.10 earnings per share. Intel’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that Intel will post 0.6 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Intel

Hedge funds and other institutional investors have recently modified their holdings of the company. New Millennium Group LLC raised its position in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the period. Frazier Financial Advisors LLC bought a new stake in shares of Intel during the 4th quarter worth about $27,000. Burkett Financial Services LLC bought a new stake in shares of Intel during the 4th quarter worth about $27,000. Tributary Capital Management LLC bought a new stake in Intel during the 1st quarter valued at approximately $27,000. Finally, Legacy Financial Group LLC bought a new stake in Intel during the 3rd quarter valued at approximately $30,000. 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.