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

Intel (NASDAQ:INTC) had its target price dropped by analysts at Susquehanna from $42.00 to $40.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the chip maker’s stock. Susquehanna’s price target suggests a potential upside of 14.16% from the company’s previous close.

Several other research firms have also recently commented on INTC. Morgan Stanley boosted their price target on shares of Intel from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Citigroup lowered their price target on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a report on Monday. HSBC lowered their price target on shares of Intel from $46.00 to $44.00 and set a “hold” rating on the stock in a report on Friday, January 26th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price target on shares of Intel in a report on Wednesday, April 3rd. Finally, Mizuho lowered their price target on shares of Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.62.

Intel Trading Down 1.8 %

NASDAQ INTC opened at $35.04 on Wednesday. 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. The stock has a market cap of $148.15 billion, a price-to-earnings ratio of 89.85, a PEG ratio of 3.21 and a beta of 1.00. The firm’s 50 day moving average price is $42.03 and its two-hundred day moving average price is $42.30.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the previous year, the company posted $0.10 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts anticipate that Intel will post 0.62 EPS for the current year.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following 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. 0.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Intel by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares in the last quarter. State Street Corp grew its stake in Intel by 0.8% during the first quarter. State Street Corp now owns 179,319,417 shares of the chip maker’s stock worth $5,858,347,000 after buying an additional 1,447,881 shares during the last quarter. Capital International Investors grew its stake in Intel by 0.3% during the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock worth $4,855,099,000 after buying an additional 318,495 shares during the last quarter. Primecap Management Co. CA grew its stake in Intel by 0.6% during the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after buying an additional 475,636 shares during the last quarter. Finally, Morgan Stanley grew its stake in Intel by 29.8% during the fourth quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock worth $1,409,835,000 after buying 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.