Intel (NASDAQ:INTC) Given New $21.00 Price Target at Mizuho

Intel (NASDAQ:INTC) had its price objective cut by investment analysts at Mizuho from $23.00 to $21.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the chip maker’s stock. Mizuho’s target price indicates a potential upside of 10.01% from the company’s current price.

A number of other research firms have also recently issued reports on INTC. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 target price on shares of Intel in a research note on Tuesday, October 29th. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Northland Securities reduced their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Bank of America reiterated an “underperform” rating and issued a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.96.

Intel Price Performance

INTC stock traded down $0.79 during trading on Friday, hitting $19.09. The company had a trading volume of 41,115,392 shares, compared to its average volume of 54,720,668. The company has a fifty day moving average price of $22.12 and a two-hundred day moving average price of $23.83. Intel has a fifty-two week low of $18.51 and a fifty-two week high of $50.30. The company has a market cap of $82.34 billion, a P/E ratio of -5.13 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

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

Insider Activity at Intel

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

Institutional Investors Weigh In On Intel

A number of institutional investors have recently made changes to their positions in the stock. Cyrus J. Lawrence LLC acquired a new stake in Intel during the 2nd quarter valued at approximately $27,000. Quest Partners LLC boosted its stake in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the last quarter. Groupama Asset Managment increased its position in shares of Intel by 6.3% during the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock worth $32,000 after buying an additional 8,084 shares during the period. FSA Wealth Management LLC bought a new position in Intel during the third quarter worth $34,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Intel in the second quarter valued at $35,000. 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.