Barclays Lowers Intel (NASDAQ:INTC) Price Target to $23.00

Intel (NASDAQ:INTC) had its price objective dropped by equities researchers at Barclays from $25.00 to $23.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the chip maker’s stock. Barclays‘s price target suggests a potential upside of 7.10% from the stock’s current price.

Several other analysts also recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Robert W. Baird upped their target price on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Truist Financial lifted their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.81.

Intel Trading Down 1.8 %

NASDAQ INTC traded down $0.39 on Friday, reaching $21.48. The company had a trading volume of 27,587,886 shares, compared to its average volume of 64,916,855. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel has a 52 week low of $18.51 and a 52 week high of $50.30. The stock has a market cap of $92.62 billion, a price-to-earnings ratio of -5.77, a PEG ratio of 9.59 and a beta of 1.07. The stock’s 50 day moving average is $21.37 and its 200-day moving average is $23.12.

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

Insider Buying and Selling

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

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Finley Financial LLC bought a new stake in Intel in the fourth quarter valued at approximately $25,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel in the 2nd quarter valued at $27,000. Quest Partners LLC increased its position in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the period. West Financial Advisors LLC bought a new position in Intel during the fourth quarter worth $31,000. Finally, Groupama Asset Managment lifted its holdings in Intel by 6.3% in the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after buying an additional 8,084 shares during the period. 64.53% of the stock is currently owned by institutional investors.

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.