HSBC Trims Intel (NASDAQ:INTC) Target Price to $37.00

Intel (NASDAQ:INTC) had its price objective cut by HSBC from $44.00 to $37.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a hold rating on the chip maker’s stock.

Several other research analysts have also recently commented on INTC. Wedbush restated a neutral rating and issued a $40.00 target price on shares of Intel in a research report on Wednesday, April 17th. Wells Fargo & Company decreased their target price on shares of Intel from $48.00 to $43.00 and set an equal weight rating for the company in a research report on Tuesday, April 9th. Citigroup decreased their target price on shares of Intel from $47.50 to $40.00 and set a neutral rating for the company in a research report on Monday, April 15th. Evercore ISI began coverage on shares of Intel in a research report on Tuesday, April 16th. They issued an in-line rating and a $40.00 target price for the company. Finally, Truist Financial reaffirmed a hold rating and issued a $45.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $42.38.

Intel Price Performance

Shares of NASDAQ:INTC opened at $35.11 on Tuesday. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The company has a market cap of $148.45 billion, a PE ratio of 90.03, a P/E/G ratio of 3.13 and a beta of 1.00. The firm has a 50-day simple moving average of $41.11 and a 200 day simple moving average of $42.25.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. Intel’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that Intel will post 0.6 EPS for the current year.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction 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 purchase, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction 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 purchase, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The acquisition 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 company’s stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, 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 owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INTC. Barrett & Company Inc. increased 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 last quarter. Revolve Wealth Partners LLC increased 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 last quarter. New Millennium Group LLC increased 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 last quarter. Waldron Private Wealth LLC increased 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 last quarter. Finally, Spreng Capital Management Inc. increased its stake in shares of Intel by 1.3% during the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after purchasing an additional 246 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

About Intel

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.