Intel (NASDAQ:INTC) Price Target Cut to $35.00

Intel (NASDAQ:INTC) had its price target decreased by equities researchers at TD Cowen from $42.00 to $35.00 in a note issued to investors on Friday, Briefing.com reports. The firm presently has a “hold” rating on the chip maker’s stock. TD Cowen’s price target suggests a potential downside of 0.31% from the company’s previous close.

A number of other equities analysts have also recently commented on INTC. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Friday, February 23rd. Benchmark reissued a “buy” rating and set a $62.00 target price on shares of Intel in a report on Wednesday, April 3rd. Wedbush reissued a “neutral” rating and set a $40.00 target price on shares of Intel in a report on Wednesday, April 17th. The Goldman Sachs Group lifted their target price on Intel from $34.00 to $39.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Finally, Bank of America dropped their target price on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.14.

Intel Trading Up 1.8 %

INTC stock opened at $35.11 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The company has a fifty day moving average price of $41.11 and a two-hundred day moving average price of $42.25. Intel has a one year low of $26.85 and a one year high of $51.28. The stock has a market cap of $148.45 billion, a price-to-earnings ratio of 90.03, a price-to-earnings-growth ratio of 3.13 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts anticipate that Intel will post 0.6 EPS for the current year.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction 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 purchase, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction 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 purchase, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the 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 of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Institutional investors have recently modified their holdings of the company. New Millennium Group LLC raised its position in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares during the period. Burkett Financial Services LLC purchased a new stake in Intel in the 4th quarter valued at $27,000. Frazier Financial Advisors LLC purchased a new stake in Intel in the 4th quarter valued at $27,000. Tributary Capital Management LLC purchased a new stake in Intel in the 1st quarter valued at $27,000. Finally, Valued Wealth Advisors LLC purchased a new stake in Intel in the 4th quarter valued at $36,000. 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.