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

Intel (NASDAQ:INTC) had its price target cut by equities research analysts at Truist Financial from $22.00 to $21.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the chip maker’s stock. Truist Financial’s price target would indicate a potential upside of 5.13% from the stock’s previous close.

INTC has been the subject of a number of other reports. Bank of America reissued an “underperform” rating and set a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Roth Mkm reduced their target price on Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday. Rosenblatt Securities reissued a “sell” rating and issued a $20.00 price objective on shares of Intel in a research note on Thursday. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Robert W. Baird upped their target price on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and an average target price of $26.88.

Intel Stock Performance

Intel stock traded down $0.04 during trading hours on Friday, hitting $19.98. The stock had a trading volume of 53,800,605 shares, compared to its average volume of 70,376,969. The company has a 50-day moving average of $20.88 and a two-hundred day moving average of $22.62. 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 $86.15 billion, a PE ratio of -5.37, a price-to-earnings-growth ratio of 9.64 and a beta of 1.07. Intel has a fifty-two week low of $18.51 and a fifty-two week high of $46.63.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. On average, equities research analysts anticipate that Intel will post -0.87 EPS 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 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in shares of Intel by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 4,847,693 shares of the chip maker’s stock valued at $97,196,000 after purchasing an additional 20,570 shares during the period. Capital Performance Advisors LLP raised its stake in Intel by 533.9% in the fourth quarter. Capital Performance Advisors LLP now owns 9,851 shares of the chip maker’s stock valued at $198,000 after buying an additional 8,297 shares during the period. Sierra Ocean LLC bought a new stake in Intel in the fourth quarter valued at approximately $36,000. Csenge Advisory Group lifted its position in shares of Intel by 10.0% in the fourth quarter. Csenge Advisory Group now owns 41,739 shares of the chip maker’s stock valued at $837,000 after buying an additional 3,780 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in shares of Intel during the 4th quarter worth approximately $782,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.