Wedbush Trims Intel (NASDAQ:INTC) Target Price to $32.50

Intel (NASDAQ:INTC) had its price objective lowered by Wedbush from $40.00 to $32.50 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the chip maker’s stock. Wedbush’s price objective points to a potential upside of 2.14% from the stock’s current price.

INTC has been the topic of a number of other reports. Rosenblatt Securities restated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday. Truist Financial reissued a “hold” rating and issued a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Bank of America lowered their price objective on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, The Goldman Sachs Group decreased their target price on shares of Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Intel has a consensus rating of “Hold” and a consensus price target of $40.32.

Intel Stock Down 9.4 %

Intel stock traded down $3.29 during midday trading on Friday, hitting $31.82. 62,638,430 shares of the stock were exchanged, compared to its average volume of 47,379,789. The firm has a market cap of $134.53 billion, a P/E ratio of 81.46, a P/E/G 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 has a 1 year low of $26.85 and a 1 year high of $51.28. The company has a 50 day moving average price of $41.11 and a two-hundred day moving average price of $42.25.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share 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 analyst estimates of $15.16 billion. During the same period last year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, sell-side analysts predict that Intel will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Intel

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

Institutional Trading of Intel

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after buying an additional 4,678,169 shares during the last quarter. Capital International Investors increased its stake in Intel by 0.3% in the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock worth $4,855,099,000 after purchasing an additional 318,495 shares during the period. Primecap Management Co. CA increased its stake in Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after purchasing an additional 475,636 shares during the period. Norges Bank purchased a new position in Intel in the 4th quarter worth approximately $2,424,202,000. Finally, Northern Trust Corp increased its stake in shares of Intel by 3.7% during the third quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after buying an additional 1,626,127 shares during the period. 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.