Citigroup Cuts Intel (NASDAQ:INTC) Price Target to $21.00

Intel (NASDAQ:INTC) had its price target dropped by analysts at Citigroup from $22.00 to $21.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the chip maker’s stock. Citigroup’s price target would suggest a potential downside of 4.31% from the stock’s previous close.

A number of other research firms also recently commented on INTC. Stifel Nicolaus restated a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Robert W. Baird increased their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial increased their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Mizuho lowered their price target on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Five investment analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $29.15.

Intel Trading Up 2.1 %

INTC stock traded up $0.46 during mid-day trading on Tuesday, reaching $21.95. 29,145,561 shares of the stock traded hands, compared to its average volume of 62,526,656. 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 has a 52-week low of $18.51 and a 52-week high of $50.30. The company has a market cap of $94.65 billion, a P/E ratio of -5.90, a P/E/G ratio of 9.46 and a beta of 1.07. The stock’s fifty day moving average is $21.48 and its 200-day moving average is $23.20.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. As a group, sell-side analysts expect that Intel will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of institutional investors have recently modified their holdings of INTC. Quest Partners LLC lifted its position in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the last quarter. Finley Financial LLC bought a new stake in shares of Intel during the 4th quarter worth $25,000. FSA Wealth Management LLC bought a new position in Intel in the third quarter valued at about $34,000. Capital Performance Advisors LLP bought a new position in Intel in the third quarter valued at about $36,000. Finally, West Financial Advisors LLC bought a new position in Intel in the fourth quarter valued at about $31,000. 64.53% of the stock is currently owned by institutional investors.

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.