Intel (NASDAQ:INTC) Price Target Lowered to $22.00 at Susquehanna

Intel (NASDAQ:INTC) had its price target lowered by Susquehanna from $24.00 to $22.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the chip maker’s stock. Susquehanna’s price objective points to a potential upside of 13.69% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Barclays dropped their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Truist Financial cut their price objective on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. UBS Group lowered their price objective on shares of Intel from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday. Wells Fargo & Company cut their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Citigroup decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.38.

Intel Price Performance

Shares of INTC stock traded down $0.50 during trading hours on Wednesday, hitting $19.35. The company’s stock had a trading volume of 15,640,364 shares, compared to its average volume of 77,812,475. Intel has a twelve month low of $17.67 and a twelve month high of $37.16. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $22.39 and a 200-day moving average of $22.04. The stock has a market cap of $84.38 billion, a price-to-earnings ratio of -4.41 and a beta of 1.13.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. As a group, equities research analysts anticipate that Intel will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Intel

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares during the period. Geode Capital Management LLC grew its position in Intel by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after purchasing an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intel by 8.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock valued at $1,268,430,000 after buying an additional 4,793,927 shares during the last quarter. Norges Bank acquired a new position in shares of Intel during the 4th quarter worth about $1,246,569,000. Finally, Northern Trust Corp raised its stake in shares of Intel by 15.5% during the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock worth $918,522,000 after purchasing an additional 6,157,853 shares in the last quarter. 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.