Intel (NASDAQ:INTC) Price Target Lowered to $28.00 at Northland Securities

Intel (NASDAQ:INTC) had its price target dropped by equities research analysts at Northland Securities from $42.00 to $28.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the chip maker’s stock. Northland Securities’ price objective would suggest a potential upside of 20.79% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. The Goldman Sachs Group lowered their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Truist Financial boosted their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday. Finally, Argus cut Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Intel has a consensus rating of “Hold” and an average target price of $30.12.

Intel Stock Performance

Intel stock traded up $1.66 during midday trading on Friday, reaching $23.18. 124,721,664 shares of the company’s stock were exchanged, compared to its average volume of 59,157,789. The stock’s 50-day simple moving average is $21.74 and its 200 day simple moving average is $27.12. The firm has a market cap of $99.12 billion, a price-to-earnings ratio of -6.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period in the previous year, the firm posted ($0.05) earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, analysts expect that Intel will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. purchased a new stake in shares of Intel in the 2nd quarter valued at about $2,178,000. Fortis Group Advisors LLC grew its stake in Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after buying an additional 157,991 shares in the last quarter. Private Advisory Group LLC bought a new position in Intel in the third quarter valued at $8,045,000. Sanibel Captiva Trust Company Inc. increased its position in shares of Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after purchasing an additional 48,765 shares during the last quarter. Finally, Forsta AP Fonden raised its stake in shares of Intel by 4.6% during the third quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock worth $22,267,000 after acquiring an additional 41,900 shares in the last quarter. 64.53% of the stock is currently 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.