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

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

Other analysts have also recently issued reports about the stock. Northland Securities decreased their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Mizuho decreased their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Barclays dropped their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Five investment analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.81.

Intel Trading Up 1.3 %

Shares of Intel 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 firm’s 50 day simple moving average is $21.48 and its two-hundred day simple moving average is $23.20. 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 market capitalization of $93.89 billion, a price-to-earnings ratio of -5.85, a PEG ratio of 9.46 and a beta of 1.07.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the firm posted $0.28 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. Analysts predict that Intel will post -0.87 EPS for the current year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated 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 of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

Institutional Trading of Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in INTC. Assenagon Asset Management S.A. boosted its position in shares of Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after purchasing an additional 14,227,458 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 valued at $1,371,692,000 after acquiring an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after acquiring an additional 7,207,785 shares in the last quarter. Finally, 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 valued at $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. 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.