Mizuho Cuts Intel (NASDAQ:INTC) Price Target to $21.00

Intel (NASDAQ:INTC) had its target price reduced by Mizuho from $23.00 to $21.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the chip maker’s stock.

Other research analysts have also issued research reports about the company. Truist Financial increased their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Northland Securities decreased their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Robert W. Baird boosted their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.96.

Intel Stock Performance

Shares of NASDAQ INTC opened at $19.15 on Friday. The company has a market capitalization of $82.59 billion, a PE ratio of -5.15 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The company’s fifty day moving average price is $22.03 and its 200 day moving average price is $23.66. Intel has a 1 year low of $18.51 and a 1 year high of $50.30.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. On average, research analysts predict that Intel will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cyrus J. Lawrence LLC purchased a new position in Intel during the 2nd quarter valued at about $27,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Intel during the second quarter worth about $35,000. Quest Partners LLC boosted its stake in shares of Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Intel in the third quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP purchased a new stake in Intel during the 3rd quarter worth approximately $36,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.