Intel (NASDAQ:INTC) Price Target Lowered to $23.00 at Barclays

Intel (NASDAQ:INTC) had its price target reduced by equities researchers at Barclays from $25.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the chip maker’s stock. Barclays‘s target price would suggest a potential upside of 16.84% from the company’s previous close.

INTC has been the topic of a number of other reports. Robert W. Baird upped their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. The Goldman Sachs Group lowered their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.88.

Intel Stock Performance

NASDAQ INTC opened at $19.69 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock’s fifty day moving average is $21.78 and its two-hundred day moving average is $23.47. The firm has a market capitalization of $84.90 billion, a P/E ratio of -5.29, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07. Intel has a fifty-two week low of $18.51 and a fifty-two week high of $50.30.

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 firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts anticipate that Intel will post -0.87 earnings per share for the current year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cyrus J. Lawrence LLC acquired a new position in shares of Intel in the second quarter valued at approximately $27,000. Quest Partners LLC lifted 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 worth $30,000 after acquiring an additional 1,253 shares during the period. West Financial Advisors LLC purchased a new stake in shares of Intel in the fourth quarter valued at about $31,000. Groupama Asset Managment increased its stake 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 acquiring an additional 8,084 shares during the period. Finally, Sawyer & Company Inc purchased a new position in Intel during the fourth quarter worth about $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.