Citigroup Lowers Intel (NASDAQ:INTC) Price Target to $21.00

Intel (NASDAQ:INTC) had its target price cut by investment analysts at Citigroup from $22.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the chip maker’s stock. Citigroup’s target price would suggest a potential downside of 3.93% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. HSBC raised Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday. The Goldman Sachs Group cut their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.81.

Intel Price Performance

Shares of INTC stock opened at $21.86 on Tuesday. The stock’s fifty day moving average is $21.44 and its 200-day moving average is $23.13. 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 stock has a market capitalization of $94.28 billion, a PE ratio of -5.88, a PEG ratio of 9.46 and a beta of 1.07. Intel has a 52 week low of $18.51 and a 52 week high of $50.30.

Intel (NASDAQ:INTC) last posted its quarterly 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 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%. Intel’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 EPS. Equities research analysts expect that Intel will post -0.87 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Large investors have recently added to or reduced their stakes in the business. Finley Financial LLC acquired a new stake in Intel during the fourth quarter worth approximately $25,000. Quest Partners LLC grew its stake in 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 purchasing an additional 1,253 shares during the period. West Financial Advisors LLC acquired a new stake in Intel during the fourth quarter worth approximately $31,000. Groupama Asset Managment grew its stake in Intel by 6.3% during the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock worth $32,000 after purchasing an additional 8,084 shares during the period. Finally, Sawyer & Company Inc acquired a new stake in Intel during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds 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.