Intel (NASDAQ:INTC) Price Target Cut to $20.00 by Analysts at JPMorgan Chase & Co.

Intel (NASDAQ:INTC - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $23.00 to $20.00 in a research report report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has an underweight rating on the chip maker's stock.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company lowered their target price on Intel from $28.00 to $25.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Barclays reaffirmed a "reduce" rating on shares of Intel in a research report on Tuesday. Benchmark restated a "hold" rating on shares of Intel in a report on Friday. Bank of America upgraded shares of Intel from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Finally, Susquehanna lowered their target price on Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Six equities research 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. Based on data from MarketBeat, Intel has an average rating of "Hold" and a consensus price target of $22.83.

Intel Trading Down 6.7 %

Shares of INTC traded down $1.44 during trading hours on Friday, reaching $20.05. The stock had a trading volume of 147,372,216 shares, compared to its average volume of 79,457,159. The firm has a 50-day moving average of $21.92 and a 200 day moving average of $21.86. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The company has a market cap of $87.43 billion, a P/E ratio of -4.58 and a beta of 1.13. Intel has a 52 week low of $17.67 and a 52 week high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The business had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. During the same period in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts expect that Intel will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intel

A number of large investors have recently modified their holdings of the business. Cornerstone Advisory LLC raised its stake in Intel by 4.3% during the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after acquiring an additional 409 shares in the last quarter. Evergreen Capital Management LLC boosted its position in Intel by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock valued at $840,000 after buying an additional 419 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Intel by 0.3% during the fourth quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock worth $3,263,000 after buying an additional 456 shares during the last quarter. CFM Wealth Partners LLC lifted its stake in shares of Intel by 4.0% in the 4th quarter. CFM Wealth Partners LLC now owns 13,114 shares of the chip maker's stock valued at $263,000 after acquiring an additional 500 shares during the last quarter. Finally, Ausdal Financial Partners Inc. boosted its holdings in shares of Intel by 2.0% during the 4th quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker's stock valued at $501,000 after acquiring an additional 500 shares in the last quarter. 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.