Intel (NASDAQ:INTC) Price Target Cut to $35.00 by Analysts at Sanford C. Bernstein

Intel (NASDAQ:INTC) had its target price dropped by investment analysts at Sanford C. Bernstein from $42.00 to $35.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the chip maker’s stock. Sanford C. Bernstein’s target price points to a potential downside of 0.31% from the company’s previous close.

Several other brokerages have also weighed in on INTC. Barclays increased their price objective on shares of Intel from $32.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group reduced their price target on shares of Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a research note on Friday. Evercore ISI initiated coverage on shares of Intel in a report on Tuesday, April 16th. They issued an “in-line” rating and a $40.00 price objective for the company. Morgan Stanley raised their price objective on shares of Intel from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus price target of $40.87.

Intel Stock Performance

Shares of INTC stock opened at $35.11 on Friday. The firm 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. Intel has a 12 month low of $26.85 and a 12 month high of $51.28. The company’s fifty day simple moving average is $41.11 and its 200-day simple moving average is $42.25. 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 quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. Equities research analysts expect that Intel will post 0.6 EPS for the current fiscal year.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Patrick P. Gelsinger acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Also, 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 bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, 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 company insiders.

Institutional Trading of Intel

A number of institutional investors have recently made changes to their positions in the stock. Slow Capital Inc. boosted its position in shares of Intel by 0.9% during the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after buying an additional 508 shares during the last quarter. Altus Wealth Group LLC increased its stake in Intel by 29.4% in the 4th quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock worth $1,272,000 after acquiring an additional 5,759 shares during the last quarter. Alera Investment Advisors LLC bought a new stake in Intel in the 4th quarter worth approximately $201,000. Vanguard Capital Wealth Advisors boosted its holdings in shares of Intel by 1.3% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock worth $1,613,000 after purchasing an additional 574 shares during the period. Finally, Prosperity Wealth Management Inc. purchased a new position in shares of Intel in the 4th quarter worth approximately $293,000. Hedge funds and other institutional investors 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.