Intel (NASDAQ:INTC) Price Target Cut to $40.00

Intel (NASDAQ:INTC) had its price target reduced by analysts at Susquehanna from $42.00 to $40.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the chip maker’s stock. Susquehanna’s price target points to a potential upside of 12.11% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. UBS Group upped their price objective on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. HSBC decreased their target price on Intel from $46.00 to $44.00 and set a “hold” rating for the company in a research report on Friday, January 26th. Evercore ISI initiated coverage on Intel in a research report on Tuesday. They issued an “in-line” rating and a $40.00 target price for the company. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Company decreased their target price on Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.62.

Intel Stock Down 1.6 %

NASDAQ INTC traded down $0.58 during trading hours on Wednesday, hitting $35.68. 39,316,589 shares of the company were exchanged, compared to its average volume of 46,695,355. The company has a 50 day moving average of $42.32 and a two-hundred day moving average of $42.40. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. Intel has a 52-week low of $26.85 and a 52-week high of $51.28. The firm has a market cap of $150.86 billion, a price-to-earnings ratio of 91.28, a PEG ratio of 3.21 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion during 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 business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. Equities research analysts anticipate that Intel will post 0.62 earnings per share for the current year.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 3,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the acquisition, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Intel by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after acquiring an additional 4,678,169 shares during the last quarter. State Street Corp boosted its holdings in Intel by 0.8% in the first quarter. State Street Corp now owns 179,319,417 shares of the chip maker’s stock valued at $5,858,347,000 after acquiring an additional 1,447,881 shares during the last quarter. Capital International Investors boosted its holdings in Intel by 0.3% in the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after acquiring an additional 318,495 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after acquiring an additional 475,636 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Intel by 29.8% in the fourth quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock valued at $1,409,835,000 after acquiring an additional 12,241,200 shares during 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.