Morgan Stanley Cuts Intel (NASDAQ:INTC) Price Target to $36.00

Intel (NASDAQ:INTC) had its price target decreased by research analysts at Morgan Stanley from $48.00 to $36.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the chip maker’s stock. Morgan Stanley’s target price suggests a potential upside of 12.92% from the stock’s previous close.

INTC has been the subject of a number of other research reports. Citigroup dropped their price objective on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a report on Monday, April 15th. Benchmark restated a “buy” rating and set a $62.00 price target on shares of Intel in a report on Wednesday, April 3rd. Wells Fargo & Company lowered their price target 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. Rosenblatt Securities restated a “sell” rating and set a $17.00 price target on shares of Intel in a report on Friday. Finally, Truist Financial restated a “hold” rating and set a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Stock Down 9.2 %

Shares of NASDAQ INTC opened at $31.88 on Friday. The company has a 50 day simple moving average of $40.88 and a 200 day simple moving average of $42.27. The firm has a market cap of $134.79 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. Intel has a 1 year low of $26.85 and a 1 year high of $51.28. 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 (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $0.10 EPS. On average, research analysts forecast that Intel will post 0.6 EPS for the current year.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s 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 owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s 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 owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction dated Monday, January 29th. The shares were acquired 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 directly owns 28,475 shares in the company, valued at $1,234,676. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

A number of hedge funds have recently made changes to their positions in the business. Artemis Wealth Advisors LLC bought a new stake in shares of Intel during the 1st quarter worth $3,799,000. Vigilare Wealth Management raised its stake in shares of Intel by 4.8% during the 1st quarter. Vigilare Wealth Management now owns 11,000 shares of the chip maker’s stock worth $486,000 after purchasing an additional 500 shares during the period. Finer Wealth Management Inc. raised its stake in Intel by 5.6% in the 1st quarter. Finer Wealth Management Inc. now owns 74,210 shares of the chip maker’s stock valued at $3,278,000 after acquiring an additional 3,944 shares during the period. BayBridge Capital Group LLC raised its stake in Intel by 505.9% in the 1st quarter. BayBridge Capital Group LLC now owns 31,505 shares of the chip maker’s stock valued at $1,392,000 after acquiring an additional 26,305 shares during the period. Finally, Harrington Investments INC raised its stake in Intel by 3.8% in the 1st quarter. Harrington Investments INC now owns 87,316 shares of the chip maker’s stock valued at $3,857,000 after acquiring an additional 3,194 shares during the period. 64.53% of the stock is currently owned by institutional investors.

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.