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

Intel (NASDAQ:INTC) had its price target cut by Mizuho from $23.00 to $21.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the chip maker’s stock.

A number of other equities analysts also recently issued reports on INTC. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Stifel Nicolaus restated a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Bank of America reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of Intel in a research note on Tuesday, December 3rd. The Goldman Sachs Group lowered their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Finally, Truist Financial upped their price target on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.96.

Intel Stock Down 3.7 %

NASDAQ:INTC opened at $19.15 on Friday. Intel has a one year low of $18.51 and a one year high of $50.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The company has a market cap of $82.59 billion, a PE ratio of -5.15 and a beta of 1.07. The firm’s 50 day simple moving average is $22.03 and its 200 day simple moving average is $23.75.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. On average, research analysts anticipate that Intel will post -0.87 earnings per share for the current year.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several hedge funds have recently modified their holdings of INTC. West Oak Capital LLC grew its holdings in shares of Intel by 269.2% in the fourth quarter. West Oak Capital LLC now owns 7,920 shares of the chip maker’s stock valued at $159,000 after acquiring an additional 5,775 shares in the last quarter. Lynch & Associates IN grew its stake in Intel by 4.1% in the 4th quarter. Lynch & Associates IN now owns 22,940 shares of the chip maker’s stock valued at $460,000 after purchasing an additional 904 shares during the period. InvesTrust purchased a new stake in shares of Intel during the 4th quarter valued at $3,696,000. Diversified Trust Co raised its stake in shares of Intel by 1.8% during the 4th quarter. Diversified Trust Co now owns 83,791 shares of the chip maker’s stock worth $1,680,000 after purchasing an additional 1,445 shares during the period. Finally, Neville Rodie & Shaw Inc. boosted its holdings in shares of Intel by 23.9% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 67,910 shares of the chip maker’s stock worth $1,361,000 after buying an additional 13,095 shares during 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.