Intel (NASDAQ:INTC – Get Free Report) had its target price dropped by equities researchers at Truist Financial from $45.00 to $33.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the chip maker’s stock. Truist Financial’s price objective would indicate a potential upside of 3.42% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday. UBS Group upped their price target on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. TD Cowen reduced their price target on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research report on Friday. Finally, HSBC cut their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $39.92.
View Our Latest Stock Analysis on INTC
Intel Stock Down 9.1 %
Intel (NASDAQ:INTC – Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts anticipate that Intel will post 0.6 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired 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 disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. New Millennium Group LLC raised its stake in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Burkett Financial Services LLC purchased a new stake in shares of Intel during the fourth quarter valued at approximately $27,000. Frazier Financial Advisors LLC purchased a new stake in shares of Intel during the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC purchased a new stake in shares of Intel during the first quarter valued at approximately $27,000. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Intel during the fourth quarter valued at approximately $36,000. 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.
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