Intel (NASDAQ:INTC) Given New $23.00 Price Target at UBS Group

Intel (NASDAQ:INTC - Get Free Report) had its target price reduced by equities researchers at UBS Group from $26.00 to $23.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the chip maker's stock. UBS Group's target price indicates a potential upside of 5.65% from the company's previous close.

Several other equities analysts have also recently commented on INTC. HSBC raised shares of Intel from a "reduce" rating to a "hold" rating in a research report on Tuesday. Truist Financial increased their price target on shares of Intel from $25.00 to $26.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. Barclays reduced their price target on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Friday. Needham & Company LLC reissued a "hold" rating on shares of Intel in a report on Friday, November 1st. Finally, Robert W. Baird raised their target price on shares of Intel from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $28.81.

Intel Stock Up 1.3 %

Shares of Intel stock traded up $0.28 during trading hours on Tuesday, hitting $21.77. 95,738,235 shares of the company's stock traded hands, compared to its average volume of 68,396,563. The stock has a 50 day simple moving average of $21.48 and a 200-day simple moving average of $23.20. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $93.89 billion, a PE ratio of -5.85, a PEG ratio of 9.46 and a beta of 1.07. Intel has a twelve month low of $18.51 and a twelve month high of $50.30.

Intel (NASDAQ:INTC - Get Free Report) last issued 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the business posted $0.28 EPS. The business's revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts anticipate that Intel will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred 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 directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTC. XTX Topco Ltd grew its position in Intel by 173.6% during the 2nd quarter. XTX Topco Ltd now owns 17,959 shares of the chip maker's stock worth $556,000 after purchasing an additional 11,394 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in Intel by 1,761.3% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 22,075 shares of the chip maker's stock worth $684,000 after purchasing an additional 20,889 shares in the last quarter. 1832 Asset Management L.P. grew its position in Intel by 23.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 3,977 shares of the chip maker's stock worth $123,000 after purchasing an additional 762 shares in the last quarter. Magnetar Financial LLC purchased a new position in Intel during the 2nd quarter worth approximately $1,407,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Intel by 61.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 815,377 shares of the chip maker's stock worth $25,252,000 after purchasing an additional 310,322 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other 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.