Intel (NASDAQ:INTC) Price Target Cut to $22.00 by Analysts at Susquehanna

Intel (NASDAQ:INTC) had its price objective cut by Susquehanna from $24.00 to $22.00 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. They currently have a neutral rating on the chip maker’s stock.

A number of other equities research analysts also recently issued reports on INTC. UBS Group cut 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 Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Truist Financial decreased their price objective on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Monday. Finally, Bank of America upgraded shares of Intel from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $19.00 to $25.00 in a research note on Thursday, March 13th. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.38.

Intel Stock Performance

INTC stock opened at $19.23 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel has a 1 year low of $17.67 and a 1 year high of $37.16. The company has a market cap of $83.85 billion, a P/E ratio of -4.39 and a beta of 1.13. The stock’s fifty day moving average price is $22.39 and its 200-day moving average price is $22.02.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, equities analysts forecast that Intel will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Intel

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Intel by 1.7% during 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 last quarter. Geode Capital Management LLC boosted its stake in Intel by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock worth $1,909,761,000 after buying an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intel by 8.2% during the fourth 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 acquiring an additional 4,793,927 shares during the last quarter. Norges Bank purchased a new stake in shares of Intel in the fourth quarter valued at $1,246,569,000. Finally, Northern Trust Corp lifted its holdings in shares of Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock worth $918,522,000 after acquiring an additional 6,157,853 shares during the last quarter. 64.53% of the stock is owned by 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.