Intel (NASDAQ:INTC) Price Target Lowered to $23.00 at Barclays

Intel (NASDAQ:INTC) had its price objective reduced by Barclays from $25.00 to $23.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an equal weight rating on the chip maker’s stock.

Several other equities research analysts also recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Truist Financial lifted their price target on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Mizuho decreased their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and an average price target of $29.88.

Intel Price Performance

Shares of NASDAQ INTC opened at $21.49 on Friday. Intel has a twelve month low of $18.51 and a twelve month high of $50.30. The firm has a fifty day simple moving average of $21.55 and a 200 day simple moving average of $23.38. The company has a market capitalization of $92.69 billion, a PE ratio of -5.78, a P/E/G ratio of 8.53 and a beta of 1.07. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

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

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INTC. Finley Financial LLC bought a new stake in shares of Intel in the fourth quarter valued at approximately $25,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel in the second quarter valued at approximately $27,000. Quest Partners LLC raised its position in shares of Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the period. West Financial Advisors LLC bought a new stake in shares of Intel in the fourth quarter valued at approximately $31,000. Finally, Groupama Asset Managment raised its position in shares of Intel by 6.3% in the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after purchasing an additional 8,084 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.