Intel (NASDAQ:INTC) Price Target Lowered to $33.00 at Truist Financial

Intel (NASDAQ:INTC) had its price objective dropped by Truist Financial from $45.00 to $33.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the chip maker’s stock. Truist Financial’s price objective indicates a potential upside of 3.42% from the stock’s previous close.

Several other equities analysts have also weighed in on INTC. Wedbush cut their target price on Intel from $40.00 to $32.50 and set a “neutral” rating on the stock in a research note on Friday. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Friday. HSBC dropped their price target on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday. Bank of America dropped their price target on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, UBS Group raised their price target on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Four equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.92.

Intel Trading Down 9.1 %

NASDAQ:INTC traded down $3.20 during mid-day trading on Friday, hitting $31.91. The company had a trading volume of 72,902,590 shares, compared to its average volume of 47,521,180. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The business’s fifty day moving average is $41.11 and its two-hundred day moving average is $42.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The firm has a market cap of $134.92 billion, a P/E ratio of 81.59, a P/E/G ratio of 3.13 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts expect that Intel will post 0.6 earnings per share for the current year.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average cost 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Intel

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after acquiring an additional 4,678,169 shares during the period. Capital International Investors lifted its position in shares of Intel by 0.3% during the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after acquiring an additional 318,495 shares during the period. Primecap Management Co. CA lifted its position in shares of Intel by 0.6% during the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after acquiring an additional 475,636 shares during the period. Norges Bank bought a new stake in shares of Intel during the 4th quarter valued at $2,424,202,000. Finally, Northern Trust Corp lifted its position in shares of Intel by 3.7% during the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after acquiring an additional 1,626,127 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

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.