Truist Financial Cuts Intel (NASDAQ:INTC) Price Target to $33.00

Intel (NASDAQ:INTC) had its target price cut by stock analysts at Truist Financial from $45.00 to $33.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the chip maker’s stock. Truist Financial’s target price indicates a potential upside of 3.51% from the stock’s current price.

INTC has been the topic of a number of other reports. Morgan Stanley cut their price target on Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday. Wells Fargo & Company cut their price target on Intel from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 9th. Evercore ISI cut their price objective on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research note on Friday. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Four investment 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.75.

Intel Stock Performance

Shares of INTC stock opened at $31.88 on Friday. The business’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 firm has a market capitalization of $134.79 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.89 and a beta of 1.00. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts forecast that Intel will post 0.6 EPS for the current year.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. New Millennium Group LLC grew its stake in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Frazier Financial Advisors LLC purchased a new position in shares of Intel during the 4th quarter valued at $27,000. Burkett Financial Services LLC purchased a new position in shares of Intel during the 4th quarter valued at $27,000. Tributary Capital Management LLC purchased a new position in shares of Intel during the 1st quarter valued at $27,000. Finally, Legacy Financial Group LLC purchased a new position in shares of Intel during the 3rd quarter valued at $30,000. Institutional investors 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.