Truist Financial Raises Intel (NASDAQ:INTC) Price Target to $26.00

Intel (NASDAQ:INTC) had its price objective hoisted by Truist Financial from $25.00 to $26.00 in a research note published on Friday, Benzinga reports. They currently have a hold rating on the chip maker’s stock.

INTC has been the topic of a number of other research reports. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. The Goldman Sachs Group cut their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.12.

Intel Price Performance

Shares of INTC stock opened at $22.52 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel has a 52 week low of $18.51 and a 52 week high of $51.28. The company’s 50 day moving average price is $21.84 and its two-hundred day moving average price is $26.81.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. Equities research analysts forecast that Intel will post -0.47 earnings per share for the current year.

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently made changes to their positions in INTC. Capital International Investors boosted its holdings in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after buying an additional 13,035,566 shares during the last quarter. Davis Selected Advisers increased its position in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Intel during the 2nd quarter valued at $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Intel by 2,681.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after buying an additional 4,272,395 shares in the last quarter. 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.