Intel (NASDAQ:INTC) Price Target Cut to $26.00 by Analysts at Susquehanna

Intel (NASDAQ:INTC) had its price objective lowered by equities researchers at Susquehanna from $35.00 to $26.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the chip maker’s stock. Susquehanna’s target price points to a potential downside of 10.50% from the stock’s previous close.

A number of other research firms have also recently commented on INTC. Cantor Fitzgerald reiterated a “neutral” rating and set a $40.00 target price on shares of Intel in a research note on Tuesday, July 16th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, April 26th. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $35.00 to $23.00 in a research note on Friday. Evercore ISI lowered their target price on Intel from $40.00 to $36.00 and set an “in-line” rating on the stock in a research note on Friday, April 26th. Finally, The Goldman Sachs Group lowered their target price on Intel from $34.00 to $30.00 and set a “sell” rating on the stock in a research note on Thursday, May 9th. Five research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.91.

Intel Trading Down 5.5 %

NASDAQ INTC opened at $29.05 on Friday. Intel has a 12 month low of $28.89 and a 12 month high of $51.28. The firm has a market capitalization of $123.67 billion, a P/E ratio of 30.26, a PEG ratio of 18.39 and a beta of 1.05. The business has a fifty day simple moving average of $31.54 and a 200 day simple moving average of $37.02. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund grew its holdings in shares of Intel by 1.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 365,734 shares of the chip maker’s stock worth $11,327,000 after purchasing an additional 4,348 shares in the last quarter. Octavia Wealth Advisors LLC grew its holdings in shares of Intel by 21.0% during the second quarter. Octavia Wealth Advisors LLC now owns 9,750 shares of the chip maker’s stock worth $302,000 after purchasing an additional 1,691 shares in the last quarter. Naviter Wealth LLC grew its holdings in shares of Intel by 22.5% during the second quarter. Naviter Wealth LLC now owns 40,840 shares of the chip maker’s stock worth $1,265,000 after purchasing an additional 7,504 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in shares of Intel during the second quarter worth about $355,000. Finally, Allegheny Financial Group LTD grew its holdings in shares of Intel by 22.4% during the second quarter. Allegheny Financial Group LTD now owns 9,542 shares of the chip maker’s stock worth $295,000 after purchasing an additional 1,745 shares in the last quarter. Hedge funds and other 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.