Intel Co. (NASDAQ:INTC) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Intel Co. (NASDAQ:INTC) have been given a consensus recommendation of “Reduce” by the thirty-one analysts that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $30.04.

Several brokerages have recently issued reports on INTC. The Goldman Sachs Group reduced their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Bank of America reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Truist Financial raised their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th.

Intel Price Performance

INTC opened at $20.22 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The stock has a market capitalization of $87.21 billion, a P/E ratio of -5.44 and a beta of 1.05. The company’s 50 day simple moving average is $22.36 and its 200-day simple moving average is $24.21. Intel has a one year low of $18.51 and a one year high of $50.30.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the previous year, the business posted $0.28 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Intel will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Intel

Large investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Van ECK Associates Corp increased its holdings in shares of Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares during the period. Davis Selected Advisers lifted its stake in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after buying an additional 5,851,098 shares during the last quarter. Finally, State Street Corp grew its stake in Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.