Intel (NASDAQ:INTC) Given New $23.00 Price Target at Mizuho

Intel (NASDAQ:INTC) had its price objective increased by analysts at Mizuho from $22.00 to $23.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the chip maker’s stock. Mizuho’s price target points to a potential downside of 0.78% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday. Cantor Fitzgerald cut their target price on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Wedbush cut their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Argus downgraded Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $30.12.

Intel Price Performance

Shares of NASDAQ:INTC traded up $1.66 during trading on Friday, reaching $23.18. The company had a trading volume of 124,721,664 shares, compared to its average volume of 59,157,789. Intel has a 12 month low of $18.51 and a 12 month high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $99.12 billion, a P/E ratio of -6.19 and a beta of 1.03. The company has a fifty day moving average of $21.74 and a two-hundred day moving average of $27.12.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) earnings per share. Equities research analysts forecast that Intel will post -0.47 earnings per share for the current year.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intel

Institutional investors have recently modified their holdings of the stock. William B. Walkup & Associates Inc. bought a new stake in shares of Intel in the 2nd quarter valued at about $2,178,000. Fortis Group Advisors LLC grew its position in Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the last quarter. Private Advisory Group LLC acquired a new position in shares of Intel in the 3rd quarter valued at $8,045,000. Sanibel Captiva Trust Company Inc. raised its stake in shares of Intel by 21.1% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after purchasing an additional 48,765 shares during the last quarter. Finally, Forsta AP Fonden lifted its stake in Intel by 4.6% during the 3rd quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock valued at $22,267,000 after acquiring an additional 41,900 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Company Profile

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.