Intel (NASDAQ:INTC) Price Target Raised to $26.00

Intel (NASDAQ:INTC) had its price target raised by Truist Financial from $25.00 to $26.00 in a research note published on Friday, Benzinga reports. Truist Financial currently has a hold rating on the chip maker’s stock.

INTC has been the subject of several other reports. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Morgan Stanley cut their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Northland Securities cut their price objective on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Intel currently has an average rating of “Hold” and an average target price of $30.12.

Intel Price Performance

Shares of NASDAQ INTC opened at $23.20 on Friday. The stock has a market capitalization of $99.20 billion, a price-to-earnings ratio of -6.24 and a beta of 1.03. The business has a 50-day moving average of $21.79 and a 200-day moving average of $26.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a negative net margin of 29.42% and a negative return on equity of 1.68%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the business earned ($0.05) EPS. Intel’s revenue was down .8% on a year-over-year basis. As a group, sell-side analysts predict that Intel will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Intel

A number of institutional investors and hedge funds have recently bought and sold shares of INTC. Rocky Mountain Advisers LLC boosted its position in Intel by 17.7% during the third quarter. Rocky Mountain Advisers LLC now owns 14,538 shares of the chip maker’s stock valued at $341,000 after acquiring an additional 2,182 shares during the last quarter. First Personal Financial Services boosted its position in Intel by 52.4% during the third quarter. First Personal Financial Services now owns 119,766 shares of the chip maker’s stock valued at $2,810,000 after acquiring an additional 41,161 shares during the last quarter. SilverOak Wealth Management LLC boosted its position in Intel by 19.1% during the third quarter. SilverOak Wealth Management LLC now owns 18,772 shares of the chip maker’s stock valued at $440,000 after acquiring an additional 3,006 shares during the last quarter. Lindbrook Capital LLC boosted its position in Intel by 26.2% during the third quarter. Lindbrook Capital LLC now owns 19,387 shares of the chip maker’s stock valued at $455,000 after acquiring an additional 4,027 shares during the last quarter. Finally, PFS Partners LLC boosted its position in Intel by 25.5% during the third quarter. PFS Partners LLC now owns 3,706 shares of the chip maker’s stock valued at $87,000 after acquiring an additional 752 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.