Citigroup Has Lowered Expectations for Intel (NASDAQ:INTC) Stock Price

Intel (NASDAQ:INTC) had its price objective cut by Citigroup from $22.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the chip maker’s stock. Citigroup’s price objective suggests a potential downside of 2.17% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Robert W. Baird raised their price objective on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Barclays dropped their price target 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. Deutsche Bank Aktiengesellschaft decreased their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Bank of America reaffirmed an “underperform” rating and set a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Finally, HSBC raised Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.81.

Intel Price Performance

INTC traded down $0.40 on Tuesday, hitting $21.47. 27,587,886 shares of the stock were exchanged, compared to its average volume of 64,916,855. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel has a 12 month low of $18.51 and a 12 month high of $50.30. The firm has a market capitalization of $92.58 billion, a price-to-earnings ratio of -5.77, a PEG ratio of 9.59 and a beta of 1.07. The business has a 50-day moving average of $21.37 and a two-hundred day moving average of $23.12.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion during 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 company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. Sell-side analysts forecast that Intel will post -0.87 EPS for the current fiscal year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owns 273,258 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intel

Hedge funds have recently made changes to their positions in the company. State Street Corp grew its stake in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intel by 28.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after acquiring an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares in the last quarter. 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.