Northland Securities Issues Pessimistic Forecast for Intel (NASDAQ:INTC) Stock Price

Intel (NASDAQ:INTC) had its price target cut by equities researchers at Northland Securities from $42.00 to $28.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the chip maker’s stock. Northland Securities’ price objective would suggest a potential upside of 20.69% from the stock’s previous close.

Several other analysts have also weighed in on INTC. Susquehanna dropped their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barclays cut their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. UBS Group decreased their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.12.

Intel Stock Up 7.8 %

Shares of NASDAQ INTC opened at $23.20 on Friday. Intel has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The business has a fifty day moving average of $21.79 and a two-hundred day moving average of $26.96. The stock has a market cap of $99.20 billion, a PE ratio of -6.24 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) 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 analyst estimates of $12.92 billion. Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. As a group, equities research analysts expect that Intel will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Large investors have recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after buying an additional 13,035,566 shares during the period. Davis Selected Advisers grew its position in shares of Intel by 86.2% in the second 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 Intel in the 2nd quarter valued at $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Intel by 2,681.1% in the second 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 in the last quarter. Institutional investors 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.