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

Intel (NASDAQ:INTC) had its target price reduced by equities researchers at Susquehanna from $40.00 to $35.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the chip maker’s stock. Susquehanna’s price objective suggests a potential upside of 9.79% from the stock’s current price.

INTC has been the topic of several other reports. Wedbush reiterated a “neutral” rating and issued a $40.00 price target on shares of Intel in a report on Wednesday, April 17th. Truist Financial reiterated a “hold” rating and issued a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Sanford C. Bernstein reduced their price objective on Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Price Performance

NASDAQ:INTC opened at $31.88 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 business has a 50 day simple moving average of $40.88 and a 200-day simple moving average of $42.27. Intel has a 1 year low of $26.85 and a 1 year high of $51.28. The firm has a market capitalization of $134.79 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.89 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its quarterly earnings results 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 return on equity of 2.22% and a net margin of 7.36%. The firm had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts forecast that Intel will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the 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 transaction, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intel

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