Intel (NASDAQ:INTC) Price Target Raised to $29.00

Intel (NASDAQ:INTC) had its price objective hoisted by Cantor Fitzgerald from $22.00 to $29.00 in a research note released on Tuesday,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the chip maker’s stock.

Other equities research analysts have also issued reports about the company. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. HSBC raised Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Bank of America reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. Barclays lowered their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Northland Securities lowered their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Five investment analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.88.

Intel Stock Performance

NASDAQ INTC opened at $26.09 on Tuesday. The stock has a market capitalization of $112.97 billion, a PE ratio of -5.96 and a beta of 1.08. The business has a 50 day simple moving average of $20.64 and a two-hundred day simple moving average of $21.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel has a 1-year low of $18.51 and a 1-year high of $46.63.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, research analysts predict that Intel will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after acquiring an additional 6,143,164 shares during the period. State Street Corp increased its holdings in shares of Intel by 2.8% in the 3rd 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 grew its stake in Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock worth $1,909,761,000 after buying an additional 2,978,346 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Intel by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock worth $1,268,430,000 after buying an additional 4,793,927 shares during the last quarter. Finally, Norges Bank purchased a new position in Intel during the 4th quarter worth $1,246,569,000. 64.53% of the stock is currently owned by hedge funds and other 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.