Truist Financial Has Lowered Expectations for Intel (NASDAQ:INTC) Stock Price

Intel (NASDAQ:INTC) had its price objective cut by Truist Financial from $22.00 to $21.00 in a report released on Friday morning,Benzinga reports. They currently have a hold rating on the chip maker’s stock.

Several other brokerages also recently weighed in on INTC. Barclays cut their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald reissued a “neutral” rating and set a $22.00 price objective on shares of Intel in a research note on Friday. Rosenblatt Securities reaffirmed a “sell” rating and issued a $20.00 target price on shares of Intel in a research note on Thursday. Wells Fargo & Company reduced their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus price target of $26.60.

Intel Stock Performance

Shares of INTC opened at $19.43 on Friday. The company has a 50-day moving average of $20.78 and a two-hundred day moving average of $22.51. The stock has a market cap of $83.80 billion, a P/E ratio of -5.22, a PEG ratio of 9.64 and a beta of 1.07. Intel has a 12-month low of $18.51 and a 12-month high of $46.63. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its 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 29.42% and a negative return on equity of 1.71%. As a group, research analysts predict that Intel will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intel

A number of hedge funds have recently bought and sold shares of INTC. Finley Financial LLC purchased a new position in shares of Intel during the 4th quarter valued at approximately $25,000. Keystone Financial Group Inc. acquired a new stake in Intel in the fourth quarter valued at $29,000. Quest Partners LLC boosted its stake in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares during the last quarter. West Financial Advisors LLC bought a new position in Intel during the 4th quarter valued at $31,000. Finally, Groupama Asset Managment increased its position in shares of Intel by 6.3% in the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock worth $32,000 after purchasing an additional 8,084 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.