Intel (NASDAQ:INTC) Price Target Cut to $23.00 by Analysts at Barclays

Intel (NASDAQ:INTC - Get Free Report) had its price objective decreased by equities researchers at Barclays from $25.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the chip maker's stock. Barclays's price target points to a potential upside of 7.03% from the stock's current price.

INTC has been the subject of several other research reports. Mizuho decreased their price target on Intel from $23.00 to $21.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Northland Securities lowered their target price on shares of Intel from $42.00 to $28.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. Truist Financial upped their price target on shares of Intel from $25.00 to $26.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intel from $27.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, October 3rd. Finally, Rosenblatt Securities restated a "sell" rating and issued a $17.00 target price on shares of Intel in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $29.88.

Intel Stock Performance

Shares of INTC traded up $1.82 during midday trading on Friday, hitting $21.49. 163,396,661 shares of the stock traded hands, compared to its average volume of 50,908,592. The business's 50 day moving average price is $21.55 and its two-hundred day moving average price is $23.32. The firm has a market capitalization of $92.69 billion, a PE ratio of -5.78, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel has a 1-year low of $18.51 and a 1-year high of $50.30.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) 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 analyst estimates 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 for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. Equities research analysts predict that Intel will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Intel

Large investors have recently added to or reduced their stakes in the business. William B. Walkup & Associates Inc. bought a new stake in Intel during the second quarter worth approximately $2,178,000. Geode Capital Management LLC raised its holdings 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 acquiring an additional 4,103,553 shares during the period. Principal Financial Group Inc. lifted its position in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock worth $113,244,000 after acquiring an additional 204,200 shares during the last quarter. Relyea Zuckerberg Hanson LLC boosted its holdings in Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker's stock valued at $579,000 after acquiring an additional 19,625 shares during the period. Finally, Swiss National Bank grew its position in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker's stock valued at $296,426,000 after purchasing an additional 31,800 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Intel Company Profile

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.