Intel (NASDAQ:INTC) Price Target Cut to $22.00

Intel (NASDAQ:INTC) had its price objective cut by investment analysts at The Goldman Sachs Group from $29.00 to $22.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “sell” rating on the chip maker’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 24.27% from the stock’s current price.

A number of other analysts also recently commented on INTC. Wedbush lowered their target price on Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Benchmark lowered Intel from a “buy” rating to a “hold” rating in a research report on Friday. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday. Cantor Fitzgerald reissued a “neutral” rating and set a $40.00 price target on shares of Intel in a report on Tuesday, July 16th. Finally, Morgan Stanley dropped their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday. Five research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus target price of $36.57.

Intel Trading Down 5.5 %

NASDAQ INTC opened at $29.05 on Friday. Intel has a 1 year low of $28.89 and a 1 year high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The company has a market capitalization of $123.67 billion, a PE ratio of 30.26, a P/E/G ratio of 18.39 and a beta of 1.05. The company has a fifty day moving average of $31.54 and a 200 day moving average of $37.02.

Institutional Investors Weigh In On Intel

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Slow Capital Inc. boosted its position in shares of Intel by 0.9% during the 4th quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after acquiring an additional 508 shares during the last quarter. Altus Wealth Group LLC grew its stake in shares of Intel by 29.4% in the 4th quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after buying an additional 5,759 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Intel by 3.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock worth $4,764,000 after buying an additional 2,915 shares during the last quarter. Brookstone Capital Management raised its position in shares of Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after buying an additional 27,274 shares during the period. Finally, Callan Capital LLC lifted its holdings in Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after acquiring an additional 1,474 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.