Intel (NASDAQ:INTC) Price Target Cut to $23.00 by Analysts at UBS Group

Intel (NASDAQ:INTC) had its price objective trimmed by UBS Group from $26.00 to $23.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the chip maker’s stock.

A number of other equities research analysts have also weighed in on the stock. Northland Securities lowered their target price 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. Bank of America restated an “underperform” rating and issued a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Barclays decreased their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday. Five investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.81.

Intel Stock Performance

Shares of INTC opened at $21.77 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $93.89 billion, a P/E ratio of -5.85, a price-to-earnings-growth ratio of 9.46 and a beta of 1.07. The firm’s fifty day simple moving average is $21.48 and its two-hundred day simple moving average is $23.20. Intel has a 12 month low of $18.51 and a 12 month high of $50.30.

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

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following 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 filing with the SEC, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC raised its position in Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares during the period. Finley Financial LLC purchased a new position in Intel in the 4th quarter worth $25,000. FSA Wealth Management LLC purchased a new position in Intel in the 3rd quarter worth $34,000. Capital Performance Advisors LLP purchased a new position in Intel in the 3rd quarter worth $36,000. Finally, West Financial Advisors LLC purchased a new position in Intel in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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.