Barclays Lowers Intel (NASDAQ:INTC) Price Target to $40.00

Intel (NASDAQ:INTC) had its price target decreased by stock analysts at Barclays from $44.00 to $40.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the chip maker’s stock. Barclays‘s price objective would suggest a potential upside of 25.47% from the stock’s current price.

A number of other research firms have also recently issued reports on INTC. HSBC reduced their target price 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. Stifel Nicolaus restated a “hold” rating and issued a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. TD Cowen reduced their price objective on shares of Intel from $42.00 to $35.00 and set a “hold” rating for the company in a research note on Friday. Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday. Four research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.75.

Intel Stock Performance

Shares of INTC opened at $31.88 on Friday. The company’s 50 day moving average price is $40.88 and its 200 day moving average price is $42.27. Intel has a 52 week low of $26.85 and a 52 week high of $51.28. The company has a market capitalization of $134.79 billion, a PE ratio of 33.21, a PEG ratio of 2.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion for 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 firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. Research analysts expect that Intel will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Intel

Hedge funds have recently modified their holdings of the company. New Millennium Group LLC raised its position in shares of 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 acquiring an additional 231 shares during the period. Burkett Financial Services LLC acquired a new stake in shares of Intel in the 4th quarter valued at approximately $27,000. Frazier Financial Advisors LLC acquired a new stake in shares of Intel in the 4th quarter valued at approximately $27,000. Tributary Capital Management LLC bought a new stake in Intel during the 1st quarter worth approximately $27,000. Finally, Valued Wealth Advisors LLC bought a new stake in Intel during the 4th quarter worth approximately $36,000. 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.