Intel (NASDAQ:INTC) Given New $40.00 Price Target at Barclays

Intel (NASDAQ:INTC) had its price target lowered by stock analysts at Barclays from $44.00 to $40.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the chip maker’s stock. Barclays‘s price target suggests a potential upside of 25.47% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Sanford C. Bernstein lowered their price target on Intel from $42.00 to $35.00 and set a “market perform” rating for the company in a research report on Friday. Wells Fargo & Company lowered their price target on Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. The Goldman Sachs Group lowered their price target on Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Friday. JPMorgan Chase & Co. lowered their price target on Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Bank of America lowered their price target on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $39.75.

Intel Price Performance

Shares of INTC opened at $31.88 on Friday. Intel has a 12-month low of $26.85 and a 12-month high of $51.28. The business’s fifty day moving average is $40.88 and its 200 day moving average is $42.27. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The stock has a market cap of $134.79 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.89 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 2.22% and a net margin of 7.36%. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period last year, the business earned $0.10 EPS. Intel’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Intel will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the purchase, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Intel

A number of large investors have recently modified their holdings of INTC. CX Institutional boosted its position in shares of Intel by 13.4% during the 3rd quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock valued at $746,000 after acquiring an additional 2,474 shares during the last quarter. Simplicity Solutions LLC boosted its position in shares of Intel by 45.5% during the 3rd quarter. Simplicity Solutions LLC now owns 111,005 shares of the chip maker’s stock valued at $3,946,000 after acquiring an additional 34,739 shares during the last quarter. Connecticut Wealth Management LLC boosted its position in shares of Intel by 7.3% during the 3rd quarter. Connecticut Wealth Management LLC now owns 12,751 shares of the chip maker’s stock valued at $453,000 after acquiring an additional 872 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Intel by 5.6% during the 3rd quarter. Ballentine Partners LLC now owns 53,308 shares of the chip maker’s stock valued at $1,895,000 after acquiring an additional 2,806 shares during the last quarter. Finally, TFG Advisers LLC lifted its position in Intel by 2.8% in the 3rd quarter. TFG Advisers LLC now owns 14,521 shares of the chip maker’s stock worth $516,000 after buying an additional 391 shares during the last quarter. Institutional investors 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.