Intel (NASDAQ:INTC) Price Target Cut to $21.00 by Analysts at Citigroup

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

Several other equities research analysts have also recently weighed in on INTC. Stifel Nicolaus reiterated a "hold" rating and set a $25.00 price target (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Benchmark reiterated a "hold" rating on shares of Intel in a research note on Friday, November 1st. Northland Securities reduced their price target on shares of Intel from $42.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Needham & Company LLC reiterated a "hold" rating on shares of Intel in a research report on Friday, November 1st. Finally, Bank of America restated an "underperform" rating and set a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.81.

Intel Stock Performance

Shares of INTC stock opened at $21.77 on Tuesday. Intel has a 12 month low of $18.51 and a 12 month high of $50.30. The stock has a market capitalization of $93.89 billion, a P/E ratio of -5.85, a PEG ratio of 9.46 and a beta of 1.07. 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's 50 day moving average is $21.48 and its 200 day moving average is $23.20.

Intel (NASDAQ:INTC - Get Free Report) last posted its 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 company had revenue of $13.30 billion for the quarter, compared to analysts' expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company's revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. On average, sell-side analysts anticipate that Intel will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position 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 purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC raised its stake in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock valued at $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 in 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 raised its position in shares of 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 during the last quarter. Hedge funds and other institutional investors 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.