Intel (NASDAQ:INTC) Price Target Cut to $40.00

Intel (NASDAQ:INTC) had its price target reduced by research analysts at Citigroup from $47.50 to $40.00 in a research report issued on Monday, Marketbeat.com reports. The firm currently has a “neutral” rating on the chip maker’s stock. Citigroup’s price objective indicates a potential upside of 10.31% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Wedbush restated a “neutral” rating and issued a $40.00 price target on shares of Intel in a report on Wednesday, April 3rd. Benchmark restated a “buy” rating and issued a $62.00 price target on shares of Intel in a report on Wednesday, April 3rd. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Intel in a report on Wednesday, April 3rd. Truist Financial restated a “hold” rating and issued a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Finally, Bank of America cut their price target on shares of Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $42.69.

Intel Trading Down 0.1 %

INTC stock opened at $36.26 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. Intel has a twelve month low of $26.85 and a twelve month high of $51.28. The stock has a market capitalization of $153.31 billion, a price-to-earnings ratio of 92.98, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. The firm’s fifty day simple moving average is $42.32 and its two-hundred day simple moving average is $42.40.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that Intel will post 0.62 earnings per share for the current year.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 owns 31,275 shares in the company, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barrett & Company Inc. grew its stake in shares of Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after purchasing an additional 210 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Intel by 3.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after purchasing an additional 216 shares during the period. New Millennium Group LLC grew its stake in shares of Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares during the period. Waldron Private Wealth LLC grew its stake in shares of Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock worth $2,063,000 after purchasing an additional 232 shares during the period. Finally, Virtue Capital Management LLC grew its stake in shares of Intel by 3.3% during the 4th quarter. Virtue Capital Management LLC now owns 7,580 shares of the chip maker’s stock worth $355,000 after purchasing an additional 245 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.