Intel (NASDAQ:INTC) Price Target Cut to $35.00 by Analysts at Roth Mkm

Intel (NASDAQ:INTC) had its target price dropped by research analysts at Roth Mkm from $45.00 to $35.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the chip maker’s stock. Roth Mkm’s price objective points to a potential upside of 9.79% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Stifel Nicolaus restated a “hold” rating and issued a $45.00 target price on shares of Intel in a report on Wednesday, April 3rd. UBS Group upped their price objective on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Benchmark reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Friday. Finally, Citigroup reduced their price objective on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $39.75.

Intel Trading Down 9.2 %

INTC opened at $31.88 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The firm has a market capitalization of $134.79 billion, a PE ratio of 33.21, a P/E/G ratio of 3.19 and a beta of 1.00. The company’s 50-day moving average is $40.88 and its 200 day moving average is $42.27.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.22%. The company had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts predict that Intel will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the stock in a transaction dated Monday, January 29th. The shares were bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the transaction, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Institutional investors and hedge funds have recently made changes to their positions in the stock. CX Institutional raised its position in Intel by 13.4% in the 3rd quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock worth $746,000 after purchasing an additional 2,474 shares during the period. Simplicity Solutions LLC raised its position in Intel by 45.5% in the 3rd quarter. Simplicity Solutions LLC now owns 111,005 shares of the chip maker’s stock worth $3,946,000 after purchasing an additional 34,739 shares during the period. Connecticut Wealth Management LLC raised its position in Intel by 7.3% in the 3rd quarter. Connecticut Wealth Management LLC now owns 12,751 shares of the chip maker’s stock worth $453,000 after purchasing an additional 872 shares during the period. Ballentine Partners LLC raised its position in Intel by 5.6% in the 3rd quarter. Ballentine Partners LLC now owns 53,308 shares of the chip maker’s stock worth $1,895,000 after purchasing an additional 2,806 shares during the period. Finally, TFG Advisers LLC raised 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 purchasing an additional 391 shares during the period. Hedge funds and other 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.