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

Intel (NASDAQ:INTC) had its price target increased by stock analysts at Mizuho from $22.00 to $23.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the chip maker’s stock. Mizuho’s target price would suggest a potential downside of 0.86% from the company’s previous close.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Truist Financial lifted their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Finally, Roth Mkm cut their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.12.

Intel Stock Up 7.8 %

Intel stock opened at $23.20 on Friday. The business has a fifty day moving average price of $21.79 and a 200-day moving average price of $26.96. Intel has a 1-year low of $18.51 and a 1-year high of $51.28. The stock has a market capitalization of $99.20 billion, a price-to-earnings ratio of -6.24 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The business had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the business posted ($0.05) EPS. Intel’s revenue was down .8% compared to the same quarter last year. Equities research analysts forecast that Intel will post -0.47 EPS for the current fiscal year.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intel

Several hedge funds and other institutional investors have recently made changes to their positions in the company. America First Investment Advisors LLC acquired a new position in Intel in the 2nd quarter valued at $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the second quarter worth $27,000. Spartan Fund Management Inc. acquired a new stake in shares of Intel in the second quarter valued at about $31,000. Financial Connections Group Inc. purchased a new position in shares of Intel in the second quarter worth about $32,000. Finally, Triad Wealth Partners LLC acquired a new position in Intel during the second quarter worth about $33,000. Hedge funds and other institutional investors 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.