Intel (NASDAQ:INTC) PT Lowered to $21.00 at The Goldman Sachs Group

by · The Cerbat Gem

Intel (NASDAQ:INTC – Get Free Report) had its price target reduced by stock analysts at The Goldman Sachs Group from $22.00 to $21.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “sell” rating on the chip maker’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 7.45% from the stock’s current price.

A number of other analysts have also recently weighed in on INTC. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Barclays decreased their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 target price on shares of Intel in a research report on Friday, August 2nd. Finally, TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $31.92.

Read Our Latest Stock Analysis on INTC

Intel Stock Up 1.7 %

INTC stock traded up $0.38 during trading on Thursday, hitting $22.69. 22,655,113 shares of the company’s stock traded hands, compared to its average volume of 58,821,609. The firm has a market capitalization of $96.59 billion, a P/E ratio of 23.59 and a beta of 1.03. Intel has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $21.30 and a two-hundred day simple moving average of $28.33.

Intel (NASDAQ:INTC – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The company’s revenue was down .8% compared to the same quarter last year. Sell-side analysts anticipate that Intel will post -0.47 EPS for the current year.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intel

A number of large investors have recently bought and sold shares of the business. William B. Walkup & Associates Inc. acquired a new position in shares of Intel during the 2nd quarter worth approximately $2,178,000. Private Advisory Group LLC acquired a new position in Intel during the third quarter worth $8,045,000. Brookstone Capital Management lifted its holdings in Intel by 65.2% during the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares in the last quarter. Sanibel Captiva Trust Company Inc. grew its position in shares of Intel by 21.1% in the third 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 period. Finally, Czech National Bank grew its position in shares of Intel by 7.2% in the third quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock valued at $20,392,000 after purchasing an additional 58,021 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Company Profile

(Get Free Report)

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.

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