Barclays Trims Intel (NASDAQ:INTC) Target Price to $40.00

Intel (NASDAQ:INTC) had its price objective dropped by research analysts at Barclays from $44.00 to $40.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the chip maker’s stock. Barclays‘s price target suggests a potential upside of 28.12% from the company’s current price.

Several other research analysts also recently issued reports on the company. Morgan Stanley cut their price objective on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday. Evercore ISI cut their price objective on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research report on Friday. UBS Group lifted their target price on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Mizuho lowered their target price on shares of Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Friday. Finally, Raymond James lowered their target price on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus target price of $40.57.

Intel Stock Down 11.1 %

Shares of NASDAQ INTC traded down $3.89 during mid-day trading on Friday, hitting $31.22. The company had a trading volume of 43,456,037 shares, compared to its average volume of 47,107,422. The company has a market capitalization of $132.00 billion, a PE ratio of 80.49, a price-to-earnings-growth ratio of 3.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. Intel has a 1-year low of $26.85 and a 1-year high of $51.28. The business’s 50-day simple moving average is $41.11 and its 200 day simple moving average is $42.25.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. Intel’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, analysts predict that Intel will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the purchase, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intel

A number of institutional investors have recently modified their holdings of INTC. New Millennium Group LLC grew its position in shares of Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of Intel during the 4th quarter valued at about $27,000. Burkett Financial Services LLC bought a new stake in shares of Intel during the 4th quarter valued at about $27,000. Tributary Capital Management LLC bought a new stake in shares of Intel during the 1st quarter valued at about $27,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Intel during the 3rd quarter valued at about $30,000. 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.