Intel (NASDAQ:INTC) Price Target Lowered to $34.00 at The Goldman Sachs Group

Intel (NASDAQ:INTC) had its price target reduced by research analysts at The Goldman Sachs Group from $39.00 to $34.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “sell” rating on the chip maker’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 6.65% from the company’s previous close.

Several other equities analysts have also issued reports on INTC. TD Cowen decreased their target price on Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday. Morgan Stanley increased their price target on Intel from $39.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Wells Fargo & Company reduced their price target on Intel from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. Raymond James reduced their price target on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Finally, Evercore ISI started coverage on Intel in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $40.00 price target on the stock. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $39.75.

Intel Price Performance

INTC opened at $31.88 on Friday. The stock’s 50-day moving average price is $40.88 and its 200 day moving average price is $42.27. Intel has a 12-month low of $26.85 and a 12-month high of $51.28. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The firm has a market cap of $134.79 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.89 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm 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 company earned $0.10 EPS. Intel’s revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts expect that Intel will post 0.6 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of INTC. Slow Capital Inc. lifted its holdings in shares of Intel by 0.9% in the 4th quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after buying an additional 508 shares during the period. Altus Wealth Group LLC lifted its holdings in shares of Intel by 29.4% in the 4th quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after buying an additional 5,759 shares during the period. Alera Investment Advisors LLC acquired a new stake in shares of Intel in the 4th quarter valued at approximately $201,000. Callan Capital LLC lifted its holdings in shares of Intel by 9.1% in the 4th quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after buying an additional 1,474 shares during the period. Finally, Vanguard Capital Wealth Advisors lifted its holdings in shares of Intel by 1.3% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock valued at $1,613,000 after buying an additional 574 shares during the period. 64.53% of the stock is currently owned by hedge funds and other 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.