Barclays Lowers Intel (NASDAQ:INTC) Price Target to $23.00

Intel (NASDAQ:INTC) had its target price decreased by equities researchers at Barclays from $25.00 to $23.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the chip maker’s stock. Barclays‘s target price indicates a potential upside of 16.84% from the company’s previous close.

Several other equities analysts have also issued reports on INTC. Deutsche Bank Aktiengesellschaft cut their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Mizuho decreased their target price on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. 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. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Finally, Robert W. Baird increased their price target on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.88.

Intel Trading Down 0.2 %

NASDAQ INTC opened at $19.69 on Friday. Intel has a one year low of $18.51 and a one year high of $50.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The company has a market capitalization of $84.90 billion, a price-to-earnings ratio of -5.29, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07. The company’s 50-day simple moving average is $21.78 and its two-hundred day simple moving average is $23.47.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. Equities analysts forecast that Intel will post -0.87 EPS for the current fiscal year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTC. Edgestream Partners L.P. increased its stake in Intel by 74.1% during the 2nd quarter. Edgestream Partners L.P. now owns 12,043 shares of the chip maker’s stock worth $373,000 after buying an additional 5,124 shares in the last quarter. XTX Topco Ltd increased its position in shares of Intel by 173.6% during the second quarter. XTX Topco Ltd now owns 17,959 shares of the chip maker’s stock worth $556,000 after purchasing an additional 11,394 shares in the last quarter. ProVise Management Group LLC raised its stake in Intel by 30.6% in the 2nd quarter. ProVise Management Group LLC now owns 6,883 shares of the chip maker’s stock valued at $213,000 after purchasing an additional 1,612 shares during the last quarter. Intech Investment Management LLC boosted its stake in Intel by 10.7% during the 2nd quarter. Intech Investment Management LLC now owns 146,133 shares of the chip maker’s stock worth $4,526,000 after purchasing an additional 14,102 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Intel by 3.9% during the second quarter. Brighton Jones LLC now owns 172,185 shares of the chip maker’s stock worth $5,333,000 after buying an additional 6,404 shares in the last quarter. Hedge funds and other 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.