Robert W. Baird Forecasts Strong Price Appreciation for Intel (NASDAQ:INTC) Stock

Intel (NASDAQ:INTC) had its price target boosted by Robert W. Baird from $20.00 to $25.00 in a research note released on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the chip maker’s stock.

Other research analysts also recently issued reports about the company. Truist Financial decreased their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Susquehanna decreased their price target on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Morgan Stanley reduced their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $25.00 target price (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.12.

Intel Trading Down 2.9 %

Shares of Intel stock opened at $22.52 on Friday. The business’s 50 day simple moving average is $21.84 and its 200 day simple moving average is $26.81. 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 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. On average, equities research analysts forecast that Intel will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Intel

A number of institutional investors have recently modified their holdings of INTC. America First Investment Advisors LLC acquired a new position in shares of Intel during the 2nd quarter worth $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the 2nd quarter worth $27,000. Spartan Fund Management Inc. acquired a new position in shares of Intel during the 2nd quarter worth $31,000. Financial Connections Group Inc. acquired a new position in shares of Intel during the 2nd quarter worth $32,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of Intel during the 2nd quarter worth $33,000. 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.