Intel (NASDAQ:INTC) PT Lowered to $36.00 at Evercore ISI

Intel (NASDAQ:INTC) had its target price reduced by investment analysts at Evercore ISI from $40.00 to $36.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “in-line” rating on the chip maker’s stock. Evercore ISI’s price target indicates a potential upside of 12.92% from the company’s current price.

INTC has been the subject of several other research reports. HSBC dropped their price target on shares of Intel from $44.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. Barclays boosted their target price on shares of Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Wells Fargo & Company lowered their target price on shares of Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and an average price target of $39.75.

Intel Stock Performance

NASDAQ:INTC opened at $31.88 on Friday. The company has a fifty day simple moving average of $40.88 and a two-hundred day simple moving average of $42.27. The company has a market cap 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. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. Intel has a 52 week low of $26.85 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. The business 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 company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. As a group, equities analysts anticipate that Intel will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were purchased at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in INTC. Vanguard Group Inc. grew its position in Intel by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after buying an additional 4,678,169 shares during the period. Capital International Investors grew its position in Intel by 0.3% during the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock worth $4,855,099,000 after buying an additional 318,495 shares during the period. Primecap Management Co. CA grew its position in Intel by 0.6% during the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after buying an additional 475,636 shares during the period. Norges Bank acquired a new position in Intel during the fourth quarter worth about $2,424,202,000. Finally, Northern Trust Corp grew its position in Intel by 3.7% during the third quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock worth $1,635,434,000 after buying an additional 1,626,127 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.