Intel (NASDAQ:INTC) Given New $23.00 Price Target at Barclays

Intel (NASDAQ:INTC) had its target price trimmed by Barclays from $25.00 to $23.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the chip maker’s stock.

Several other research analysts have also recently weighed in on the stock. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Truist Financial upped their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, Robert W. Baird upped their price objective on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.88.

Intel Trading Up 9.3 %

Shares of INTC opened at $21.49 on Friday. The business’s 50-day moving average price is $21.55 and its 200-day moving average price is $23.27. Intel has a twelve month low of $18.51 and a twelve month high of $50.30. The stock has a market cap of $92.69 billion, a PE ratio of -5.78, a P/E/G ratio of 8.53 and a beta of 1.07. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities analysts forecast that Intel will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.04% of the stock is currently owned by insiders.

Institutional Trading of Intel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Edgestream Partners L.P. lifted its position in Intel by 74.1% during the second quarter. Edgestream Partners L.P. now owns 12,043 shares of the chip maker’s stock valued at $373,000 after buying an additional 5,124 shares during the period. XTX Topco Ltd lifted its position in Intel by 173.6% during the second quarter. XTX Topco Ltd now owns 17,959 shares of the chip maker’s stock valued at $556,000 after buying an additional 11,394 shares during the period. ProVise Management Group LLC lifted its position in Intel by 30.6% during the second quarter. ProVise Management Group LLC now owns 6,883 shares of the chip maker’s stock valued at $213,000 after buying an additional 1,612 shares during the period. Intech Investment Management LLC lifted its position in Intel by 10.7% during the second quarter. Intech Investment Management LLC now owns 146,133 shares of the chip maker’s stock valued at $4,526,000 after buying an additional 14,102 shares during the period. Finally, Brighton Jones LLC lifted its position in Intel by 3.9% during the second quarter. Brighton Jones LLC now owns 172,185 shares of the chip maker’s stock valued at $5,333,000 after buying an additional 6,404 shares during the period. 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.