Mizuho Increases Intel (NASDAQ:INTC) Price Target to $23.00

Intel (NASDAQ:INTC) had its price target hoisted by Mizuho from $22.00 to $23.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the chip maker’s stock.

Several other equities analysts have also recently weighed in on INTC. UBS Group lowered their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Morgan Stanley lowered their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Bank of America upgraded shares of Intel from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. JPMorgan Chase & Co. lowered their price objective on shares of Intel from $23.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, April 25th. Finally, Barclays restated a “reduce” rating on shares of Intel in a report on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.62.

Intel Price Performance

NASDAQ INTC opened at $22.41 on Thursday. Intel has a 1 year low of $17.67 and a 1 year high of $37.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.31. The stock has a market capitalization of $97.73 billion, a P/E ratio of -5.00 and a beta of 1.15. The business’s fifty day moving average is $20.99 and its two-hundred day moving average is $21.17.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.12. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The firm had revenue of $12.67 billion for the quarter, compared to analysts’ expectations of $12.26 billion. During the same period in the previous year, the company posted $0.18 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts forecast that Intel will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intel

Institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Advisory LLC lifted its position in Intel by 4.3% during the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker’s stock worth $198,000 after acquiring an additional 409 shares during the last quarter. Evergreen Capital Management LLC lifted its position in Intel by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker’s stock worth $840,000 after acquiring an additional 419 shares during the last quarter. Federated Hermes Inc. lifted its position in Intel by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker’s stock worth $3,263,000 after acquiring an additional 456 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in Intel by 1.1% during the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker’s stock worth $1,037,000 after acquiring an additional 486 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Intel by 23.1% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker’s stock worth $59,000 after acquiring an additional 491 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.