Intel (NASDAQ:INTC) Price Target Raised to $23.00

Intel (NASDAQ:INTC) had its target price upped by Mizuho from $22.00 to $23.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the chip maker’s stock.

INTC has been the topic of a number of other research reports. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. The Goldman Sachs Group cut their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Barclays cut their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.12.

Intel Stock Up 7.8 %

INTC stock opened at $23.20 on Friday. The company’s 50 day moving average price is $21.79 and its 200 day moving average price is $26.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The firm has a market capitalization of $99.20 billion, a price-to-earnings ratio of -6.24 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. On average, equities research analysts anticipate that Intel will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Intel

Several institutional investors have recently made changes to their positions in the stock. Capital International Investors raised its stake in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp raised its stake in Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after purchasing an additional 13,035,566 shares during the last quarter. Davis Selected Advisers raised its stake in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares during the last quarter. Caxton Associates LP acquired a new position in shares of Intel during the 2nd quarter valued at about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after acquiring an additional 4,272,395 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.