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

Intel (NASDAQ:INTC - Free Report) had its price target lowered by Citigroup from $22.00 to $21.00 in a research note issued to investors on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the chip maker's stock.

INTC has been the subject of several other research reports. The Goldman Sachs Group reduced their price objective on shares of Intel from $22.00 to $21.00 and set a "sell" rating for the company in a report on Thursday, October 17th. Barclays reduced 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. Stifel Nicolaus reissued a "hold" rating and set a $25.00 target price (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Robert W. Baird increased their price target on Intel from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, Rosenblatt Securities reissued a "sell" rating and issued a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Five analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $28.81.

Intel Stock Performance

INTC traded up $0.28 during trading on Tuesday, reaching $21.77. 95,738,235 shares of the company were exchanged, compared to its average volume of 68,396,563. Intel has a 52 week low of $18.51 and a 52 week high of $50.30. 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 firm has a 50 day moving average of $21.48 and a 200 day moving average of $23.20. The stock has a market cap of $93.89 billion, a P/E ratio of -5.85, a PEG ratio of 9.46 and a beta of 1.07.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm's revenue was down 6.3% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. On average, sell-side analysts forecast that Intel will post -0.87 EPS for the current fiscal year.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company's stock.

Institutional Investors Weigh In On Intel

A number of large investors have recently bought and sold shares of the business. State Street Corp raised its position in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. Geode Capital Management LLC grew its position in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intel by 28.2% during 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 valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Van ECK Associates Corp raised its stake in shares of Intel by 27.2% in 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 purchasing an additional 9,422,136 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Intel by 1.3% during 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 acquiring an additional 487,191 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.