Intel (NASDAQ:INTC) had its target price reduced by equities research analysts at BMO Capital Markets from $52.00 to $50.00 in a research note issued on Friday, The Fly reports. The brokerage currently has a “hold” rating on the chip maker’s stock. BMO Capital Markets’ target price would suggest a potential upside of 11.58% from the company’s current price.
A number of other brokerages have also recently issued reports on INTC. Morgan Stanley set a $55.00 target price on Intel in a report on Tuesday, December 7th. Credit Suisse Group set a $70.00 price target on Intel in a research report on Tuesday. Susquehanna lowered their price target on Intel from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, October 22nd. Truist Financial lowered their price objective on Intel from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, October 22nd. Finally, Robert W. Baird reduced their target price on Intel from $85.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, October 22nd. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.07.
Shares of INTC stock traded down $2.76 during mid-day trading on Friday, hitting $44.81. 2,616,520 shares of the company’s stock were exchanged, compared to its average volume of 42,034,868. The stock has a 50-day simple moving average of $51.15 and a two-hundred day simple moving average of $51.93. Intel has a fifty-two week low of $46.30 and a fifty-two week high of $68.49. The stock has a market cap of $182.47 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 1.83 and a beta of 0.54. The company has a quick ratio of 1.71, a current ratio of 2.10 and a debt-to-equity ratio of 0.35.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Tuesday, January 25th. The chip maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.19. Intel had a return on equity of 25.52% and a net margin of 25.14%. The firm had revenue of $19.53 billion during the quarter, compared to analyst estimates of $18.36 billion. During the same quarter last year, the firm earned $1.52 EPS. Intel’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts anticipate that Intel will post 3.52 earnings per share for the current fiscal year.
In other Intel news, EVP Steven Ralph Rodgers sold 3,863 shares of the firm’s stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $48.81, for a total transaction of $188,553.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 1,417 shares of the firm’s stock in a transaction that occurred on Friday, December 3rd. The stock was sold at an average price of $49.69, for a total transaction of $70,410.73. The disclosure for this sale can be found here. 0.02% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Amundi acquired a new position in Intel in the 2nd quarter valued at about $1,016,365,000. Third Point LLC lifted its stake in Intel by 1,300.0% in the second quarter. Third Point LLC now owns 14,000,000 shares of the chip maker’s stock valued at $785,960,000 after buying an additional 13,000,000 shares during the last quarter. State Street Corp raised its stake in shares of Intel by 3.7% during the fourth quarter. State Street Corp now owns 177,117,083 shares of the chip maker’s stock worth $9,121,530,000 after purchasing an additional 6,279,484 shares during the last quarter. Nordea Investment Management AB raised its position in Intel by 99.3% in the third quarter. Nordea Investment Management AB now owns 10,794,070 shares of the chip maker’s stock worth $580,936,000 after acquiring an additional 5,379,319 shares in the last quarter. Finally, Generation Investment Management LLP grew its holdings in Intel by 75.1% in the third quarter. Generation Investment Management LLP now owns 12,392,297 shares of the chip maker’s stock valued at $660,262,000 after purchasing an additional 5,313,431 shares during the last quarter. 61.73% of the stock is currently owned by institutional investors.
About Intel
Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.