Northland Securities Cuts Intel (NASDAQ:INTC) Price Target to $28.00

Intel (NASDAQ:INTC) had its price target decreased by Northland Securities from $42.00 to $28.00 in a report published on Friday, Benzinga reports. Northland Securities currently has an outperform rating on the chip maker’s stock.

Other research analysts have also issued research reports about the stock. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday. Truist Financial raised their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday. The Goldman Sachs Group lowered their price objective 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 lowered shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Finally, Mizuho lowered shares of Intel from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $22.00 in a research note on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Stock Performance

Shares of NASDAQ:INTC traded up $1.68 during trading hours on Friday, hitting $23.20. The stock had a trading volume of 173,471,115 shares, compared to its average volume of 59,380,906. The stock’s fifty day simple moving average is $21.79 and its 200 day simple moving average is $27.02. Intel has a 1-year low of $18.51 and a 1-year high of $51.28. The firm 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 quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) EPS. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. Sell-side analysts anticipate that Intel will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Institutional investors have recently modified their holdings of the stock. William B. Walkup & Associates Inc. acquired a new stake in shares of Intel during the 2nd quarter valued at $2,178,000. Fortis Group Advisors LLC boosted its stake in shares of Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after buying an additional 157,991 shares during the period. Private Advisory Group LLC acquired a new stake in shares of Intel during the 3rd quarter valued at $8,045,000. Sanibel Captiva Trust Company Inc. boosted its stake in shares of Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after buying an additional 48,765 shares during the period. Finally, Forsta AP Fonden boosted its stake in shares of Intel by 4.6% during the 3rd quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock valued at $22,267,000 after buying an additional 41,900 shares during the period. Institutional investors and hedge funds 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.