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

Intel (NASDAQ:INTC) had its price objective trimmed by Barclays from $25.00 to $23.00 in a report published on Friday,Benzinga reports. The firm currently has an equal weight rating on the chip maker’s stock.

A number of other research analysts have also issued reports on INTC. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Truist Financial raised their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Stifel Nicolaus restated a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Northland Securities lowered their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. 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 stock. According to data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus target price of $29.88.

Intel Trading Up 9.3 %

Shares of Intel stock opened at $21.49 on Friday. The company has a market capitalization of $92.69 billion, a price-to-earnings ratio of -5.78, a PEG ratio of 8.53 and a beta of 1.07. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel has a 12-month low of $18.51 and a 12-month high of $50.30. The firm’s 50-day moving average price is $21.55 and its two-hundred day moving average price is $23.27.

Intel (NASDAQ:INTC) last posted its earnings results 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 company 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 firm’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.28 EPS. On average, analysts forecast that Intel will post -0.87 earnings per share for the current fiscal year.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dunhill Financial LLC boosted its holdings in shares of Intel by 22.6% in the 3rd quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after buying an additional 438 shares during the last quarter. MKT Advisors LLC boosted its holdings in shares of Intel by 4.8% in the 3rd quarter. MKT Advisors LLC now owns 10,762 shares of the chip maker’s stock worth $241,000 after buying an additional 490 shares during the last quarter. Beaton Management Co. Inc. boosted its holdings in shares of Intel by 2.2% in the 3rd quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock worth $544,000 after buying an additional 500 shares during the last quarter. Everpar Advisors LLC boosted its holdings in shares of Intel by 5.1% in the 3rd quarter. Everpar Advisors LLC now owns 10,326 shares of the chip maker’s stock worth $242,000 after buying an additional 504 shares during the last quarter. Finally, Lavaca Capital LLC boosted its holdings in shares of Intel by 4.7% in the 2nd quarter. Lavaca Capital LLC now owns 11,796 shares of the chip maker’s stock worth $365,000 after buying an additional 530 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.