Barclays Trims Intel (NASDAQ:INTC) Target Price to $40.00

Intel (NASDAQ:INTC) had its target price cut by research analysts at Barclays from $44.00 to $40.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the chip maker’s stock. Barclays‘s price objective would indicate a potential upside of 28.12% from the company’s previous close.

INTC has been the topic of a number of other reports. Raymond James lowered their target price 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. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 target price on shares of Intel in a research note on Friday. Truist Financial reiterated a “hold” rating and issued a $45.00 target price on shares of Intel in a research note on Wednesday, April 3rd. UBS Group increased their price target on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.57.

Intel Stock Down 11.1 %

Shares of INTC traded down $3.89 during mid-day trading on Friday, hitting $31.22. 43,456,037 shares of the company’s stock were exchanged, compared to its average volume of 47,107,422. The firm has a fifty day moving average of $41.11 and a two-hundred day moving average of $42.25. Intel has a twelve month low of $26.85 and a twelve month high of $51.28. The stock has a market cap of $132.00 billion, a price-to-earnings ratio of 80.49, a P/E/G ratio of 3.13 and a beta of 1.00. 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 (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) 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 analyst estimates of $15.16 billion. During the same period last year, the business posted $0.10 EPS. Intel’s revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts forecast that Intel will post 0.6 earnings per share for the current year.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Patrick P. Gelsinger acquired 3,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction on Thursday, February 1st. The stock was bought at an average price 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 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.

Institutional Investors Weigh In On Intel

Several institutional investors have recently modified their holdings of INTC. Norges Bank acquired a new stake in shares of Intel during the 4th quarter worth approximately $2,424,202,000. Price T Rowe Associates Inc. MD boosted its stake in Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after acquiring an additional 31,575,084 shares during the last quarter. California Public Employees Retirement System boosted its stake in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after acquiring an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Intel by 18.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after acquiring an additional 6,064,950 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after acquiring an additional 5,217,549 shares during the last quarter. 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.