Susquehanna Cuts Intel (NASDAQ:INTC) Price Target to $35.00

Intel (NASDAQ:INTC) had its price objective dropped by investment analysts at Susquehanna from $40.00 to $35.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the chip maker’s stock. Susquehanna’s price target would indicate a potential upside of 12.11% from the company’s current price.

A number of other research analysts have also recently commented on INTC. Morgan Stanley reduced their price objective on Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday. The Goldman Sachs Group cut their price target on Intel from $39.00 to $34.00 and set a “sell” rating on the stock in a research note on Friday. Bank of America cut their price target on Intel from $50.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Barclays boosted their price target on Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Finally, Mizuho cut their price target on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.57.

Intel Trading Down 11.1 %

Intel stock traded down $3.89 during midday trading on Friday, reaching $31.22. The stock had a trading volume of 43,456,037 shares, compared to its average volume of 47,107,422. The stock’s 50-day simple moving average is $41.11 and its 200 day simple moving average is $42.25. The stock has a market capitalization of $132.00 billion, a PE ratio of 80.49, a price-to-earnings-growth ratio of 3.13 and a beta of 1.00. Intel has a twelve month low of $26.85 and a twelve month high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last issued 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. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Analysts expect that Intel will post 0.6 EPS for the current year.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The purchase was disclosed in a 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 on Thursday, February 1st. The shares were 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 directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently made changes to their positions in INTC. CX Institutional boosted its stake in Intel by 13.4% in the 3rd quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock worth $746,000 after purchasing an additional 2,474 shares during the period. Simplicity Solutions LLC boosted its stake in Intel by 45.5% in the 3rd quarter. Simplicity Solutions LLC now owns 111,005 shares of the chip maker’s stock worth $3,946,000 after purchasing an additional 34,739 shares during the period. Connecticut Wealth Management LLC lifted its position in Intel by 7.3% during the 3rd quarter. Connecticut Wealth Management LLC now owns 12,751 shares of the chip maker’s stock worth $453,000 after buying an additional 872 shares in the last quarter. Ballentine Partners LLC lifted its position in Intel by 5.6% during the 3rd quarter. Ballentine Partners LLC now owns 53,308 shares of the chip maker’s stock worth $1,895,000 after buying an additional 2,806 shares in the last quarter. Finally, TFG Advisers LLC lifted its position in Intel by 2.8% during the 3rd quarter. TFG Advisers LLC now owns 14,521 shares of the chip maker’s stock worth $516,000 after buying an additional 391 shares in the last quarter. 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.