Bank of America Lowers Intel (NASDAQ:INTC) Price Target to $44.00

Intel (NASDAQ:INTC) had its target price reduced by Bank of America from $50.00 to $44.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the chip maker’s stock. Bank of America‘s target price would indicate a potential upside of 23.28% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on INTC. Raymond James lowered their price target on shares of Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Wells Fargo & Company lowered their price target on shares of Intel from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 9th. Mizuho lowered their price target on shares of Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.48.

Intel Stock Down 5.2 %

Shares of Intel stock opened at $35.69 on Friday. The company has a market cap of $150.90 billion, a P/E ratio of 91.52, a PEG ratio of 3.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. Intel has a one year low of $26.85 and a one year high of $51.28. The firm has a fifty day moving average of $42.58 and a two-hundred day moving average of $42.33.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. Intel’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. On average, analysts forecast that Intel will post 0.62 earnings per share for the current year.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Hedge funds have recently made changes to their positions in the company. CVA Family Office LLC raised its stake in shares of Intel by 14.0% during the third quarter. CVA Family Office LLC now owns 6,573 shares of the chip maker’s stock valued at $234,000 after purchasing an additional 808 shares during the period. Altus Wealth Group LLC raised its stake in shares of Intel by 29.4% during the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after purchasing an additional 5,759 shares during the period. Alera Investment Advisors LLC purchased a new stake in shares of Intel during the fourth quarter valued at approximately $201,000. Vanguard Capital Wealth Advisors raised its stake in shares of Intel by 1.3% during the third quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock valued at $1,613,000 after purchasing an additional 574 shares during the period. Finally, Waverly Advisors LLC grew its position in shares of Intel by 14.9% during the third quarter. Waverly Advisors LLC now owns 56,846 shares of the chip maker’s stock worth $2,021,000 after buying an additional 7,362 shares in the last quarter. Hedge funds and other institutional investors 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.