JPMorgan Chase & Co. Issues Pessimistic Forecast for Intel (NASDAQ:INTC) Stock Price

Intel (NASDAQ:INTC) had its price target reduced by research analysts at JPMorgan Chase & Co. from $26.00 to $23.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the chip maker’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 16.90% from the stock’s previous close.

A number of other brokerages have also weighed in on INTC. Barclays reduced their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Mizuho reduced their price target on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Citigroup dropped their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Roth Mkm dropped their price objective on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday. Finally, Benchmark restated a “hold” rating on shares of Intel in a report on Friday. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus price target of $26.60.

Intel Price Performance

INTC stock traded down $0.34 on Friday, reaching $19.68. The company had a trading volume of 79,647,049 shares, compared to its average volume of 71,593,891. Intel has a 1 year low of $18.51 and a 1 year high of $46.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The company’s fifty day moving average is $20.88 and its 200 day moving average is $22.62. The company has a market cap of $84.86 billion, a P/E ratio of -5.29, a PEG ratio of 9.64 and a beta of 1.07.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. On average, research analysts forecast that Intel will post -0.87 earnings per share for the current year.

Insider Transactions at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Hedge funds have recently made changes to their positions in the business. State Street Corp increased its stake in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. Geode Capital Management LLC increased its stake in shares of Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Van ECK Associates Corp increased its stake in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Intel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock valued at $743,457,000 after acquiring an additional 2,248,332 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.