Wedbush Reiterates “Underperform” Rating for Intel (NASDAQ:INTC)

Intel (NASDAQ:INTCGet Rating)‘s stock had its “underperform” rating reaffirmed by investment analysts at Wedbush in a research note issued to investors on Monday, PriceTargets.com reports. Wedbush also issued estimates for Intel’s Q1 2023 earnings at $0.25 EPS, Q2 2023 earnings at $0.35 EPS, Q3 2023 earnings at $0.48 EPS and FY2023 earnings at $1.67 EPS.

INTC has been the subject of a number of other reports. Roth Capital reduced their target price on shares of Intel from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, October 28th. Cowen assumed coverage on shares of Intel in a research report on Monday, November 21st. They issued a “market perform” rating and a $31.00 target price for the company. StockNews.com began coverage on shares of Intel in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Credit Suisse Group set a $28.00 target price on shares of Intel in a research note on Wednesday, January 11th. Finally, Robert W. Baird cut their target price on shares of Intel from $40.00 to $34.00 in a research note on Monday, October 31st. Ten analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.29.

Intel Trading Down 1.2 %

Shares of Intel stock opened at $29.92 on Monday. Intel has a 12-month low of $24.59 and a 12-month high of $52.72. The company has a current ratio of 1.77, a quick ratio of 1.31 and a debt-to-equity ratio of 0.37. The stock has a market cap of $123.48 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. The company has a 50-day moving average of $28.42 and a two-hundred day moving average of $30.46.

Intel (NASDAQ:INTCGet Rating) last announced its earnings results on Thursday, October 27th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.25. The firm had revenue of $15.34 billion for the quarter, compared to analyst estimates of $15.49 billion. Intel had a net margin of 19.13% and a return on equity of 11.67%. On average, research analysts anticipate that Intel will post 1.95 EPS for the current fiscal year.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 8,830 shares of the stock in a transaction dated Monday, October 31st. The stock was purchased at an average cost of $28.16 per share, for a total transaction of $248,652.80. Following the transaction, the chief executive officer now owns 96,049 shares of the company’s stock, valued at $2,704,739.84. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Intel news, CEO Patrick P. Gelsinger bought 8,830 shares of Intel stock in a transaction on Monday, October 31st. The shares were acquired at an average price of $28.16 per share, for a total transaction of $248,652.80. Following the completion of the purchase, the chief executive officer now directly owns 96,049 shares in the company, valued at approximately $2,704,739.84. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lip Bu Tan purchased 48,146 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were purchased at an average cost of $27.98 per share, for a total transaction of $1,347,125.08. Following the transaction, the director now directly owns 50,500 shares in the company, valued at approximately $1,412,990. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 58,830 shares of company stock worth $1,646,744. 0.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intel

Several institutional investors have recently added to or reduced their stakes in INTC. Cantor Fitzgerald Investment Advisor L.P increased its position in shares of Intel by 173.6% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock valued at $26,761,000 after buying an additional 342,649 shares in the last quarter. Axiom Financial Strategies LLC raised its position in Intel by 21.6% in the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock valued at $260,000 after purchasing an additional 1,056 shares during the period. Fairfield Bush & CO. purchased a new stake in Intel in the first quarter valued at $142,000. Retirement Income Solutions Inc raised its holdings in shares of Intel by 5.1% in the 1st quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after buying an additional 307 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Intel by 26.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock valued at $290,593,000 after buying an additional 1,244,247 shares during the period. Institutional investors and hedge funds own 59.48% of the company’s stock.

About Intel

(Get Rating)

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.

Further Reading

Analyst Recommendations for Intel (NASDAQ:INTC)

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