Intel (NASDAQ:INTC) Price Target Cut to $35.00 by Analysts at Sanford C. Bernstein

Intel (NASDAQ:INTC) had its price objective lowered by research analysts at Sanford C. Bernstein from $42.00 to $35.00 in a report released on Friday, Benzinga reports. The firm currently has a “market perform” rating on the chip maker’s stock. Sanford C. Bernstein’s price objective suggests a potential upside of 9.79% from the company’s current price.

A number of other brokerages also recently commented on INTC. JPMorgan Chase & Co. reduced their price objective on shares of Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research report on Friday. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Friday. Wells Fargo & Company dropped their target price on shares of Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, April 9th. Evercore ISI began coverage on shares of Intel in a report on Tuesday, April 16th. They issued an “in-line” rating and a $40.00 target price for the company. Finally, Bank of America dropped their target price on shares of Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $39.75.

Intel Price Performance

Shares of INTC opened at $31.88 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The company has a market capitalization of $134.79 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The firm has a 50-day simple moving average of $40.88 and a 200-day simple moving average of $42.27.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. On average, equities research analysts anticipate that Intel will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction on 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 acquisition, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction on 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 acquisition, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently made changes to their positions in the business. New Millennium Group LLC lifted its holdings in shares of Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares in the last quarter. Burkett Financial Services LLC acquired a new position in shares of Intel during the 4th quarter valued at $27,000. Frazier Financial Advisors LLC acquired a new position in shares of Intel during the 4th quarter valued at $27,000. Tributary Capital Management LLC acquired a new position in shares of Intel during the 1st quarter valued at $27,000. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Intel during the 4th quarter valued at $36,000. 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.