Intel (NASDAQ:INTC) Price Target Cut to $21.00 by Analysts at Truist Financial

Intel (NASDAQ:INTC) had its price target reduced by Truist Financial from $22.00 to $21.00 in a research report report published on Friday,Benzinga reports. They currently have a hold rating on the chip maker’s stock.

INTC has been the topic of a number of other research reports. The Goldman Sachs Group reduced their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Roth Mkm decreased their price target on shares of Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday. Robert W. Baird increased their price objective on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Intel has a consensus rating of “Hold” and an average target price of $26.60.

Intel Stock Down 2.9 %

Shares of INTC opened at $19.43 on Friday. 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 stock has a market capitalization of $83.80 billion, a PE ratio of -5.22, a P/E/G ratio of 9.64 and a beta of 1.07. The company’s 50-day simple moving average is $20.78 and its 200-day simple moving average is $22.51. Intel has a 1 year low of $18.51 and a 1 year high of $46.63.

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

Insider Buying and Selling at Intel

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

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTC. Sunbelt Securities Inc. raised its position in Intel by 180.4% in the second quarter. Sunbelt Securities Inc. now owns 3,379 shares of the chip maker’s stock worth $105,000 after acquiring an additional 2,174 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Intel in the 2nd quarter valued at about $9,265,000. Centaurus Financial Inc. lifted its stake in shares of Intel by 68.1% in the second quarter. Centaurus Financial Inc. now owns 35,484 shares of the chip maker’s stock valued at $1,099,000 after purchasing an additional 14,375 shares during the period. Czech National Bank boosted its holdings in Intel by 7.2% during the third quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock worth $20,392,000 after buying an additional 58,021 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC grew its position in Intel by 17.6% during the third quarter. Alpha Omega Wealth Management LLC now owns 142,441 shares of the chip maker’s stock worth $3,342,000 after buying an additional 21,304 shares during the period. Institutional investors and hedge funds 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.