Sanford C. Bernstein Cuts Intel (NASDAQ:INTC) Price Target to $21.00

Intel (NASDAQ:INTC) had its price objective trimmed by Sanford C. Bernstein from $25.00 to $21.00 in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm currently has a market perform rating on the chip maker’s stock.

A number of other equities analysts have also recently issued reports on the stock. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Monday, April 14th. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Finally, Susquehanna dropped their price target on Intel from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.43.

Intel Trading Up 4.4 %

NASDAQ INTC opened at $21.49 on Tuesday. The firm has a market cap of $93.71 billion, a PE ratio of -4.91 and a beta of 1.13. Intel has a 1-year low of $17.67 and a 1-year high of $37.16. The stock has a 50-day moving average of $22.07 and a 200-day moving average of $21.90. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The firm had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. As a group, sell-side analysts forecast that Intel will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Intel

Several hedge funds have recently modified their holdings of the stock. Finley Financial LLC bought a new stake in Intel in the 4th quarter valued at $25,000. Synergy Investment Management LLC purchased a new position in shares of Intel during the fourth quarter valued at about $27,000. Vermillion Wealth Management Inc. bought a new stake in shares of Intel in the fourth quarter worth about $27,000. BankPlus Trust Department purchased a new stake in shares of Intel in the fourth quarter worth about $28,000. Finally, Keystone Financial Group Inc. bought a new position in Intel during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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.