Intel (NASDAQ:INTC) Price Target Cut to $35.00

Intel (NASDAQ:INTC) had its target price cut by analysts at Sanford C. Bernstein from $42.00 to $35.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “market perform” rating on the chip maker’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 9.79% from the company’s previous close.

INTC has been the topic of several other reports. Mizuho reduced their price objective on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday. Raymond James cut their target price on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Morgan Stanley upped their target price on Intel from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. cut their target price on Intel from $37.00 to $35.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Bank of America cut their target price on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus target price of $39.75.

Intel Price Performance

NASDAQ:INTC opened at $31.88 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.89 and a beta of 1.00. Intel has a 12 month low of $26.85 and a 12 month high of $51.28. The business’s 50-day moving average is $40.88 and its 200 day moving average is $42.27.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 2.22% and a net margin of 7.36%. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that Intel will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was purchased 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intel news, CEO Patrick P. Gelsinger acquired 3,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was purchased 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 approximately $1,234,676. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, with a total value 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. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after acquiring an additional 4,678,169 shares during the last quarter. Capital International Investors raised its stake in Intel by 0.3% in the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock worth $4,855,099,000 after acquiring an additional 318,495 shares during the last quarter. Primecap Management Co. CA raised its stake in Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after acquiring an additional 475,636 shares during the last quarter. Norges Bank purchased a new position in Intel in the 4th quarter worth $2,424,202,000. Finally, Northern Trust Corp raised its stake in Intel by 3.7% in the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock worth $1,635,434,000 after acquiring an additional 1,626,127 shares during 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.