Intel (NASDAQ:INTC) Price Target Cut to $38.00 by Analysts at Wells Fargo & Company

Intel (NASDAQ:INTC) had its target price decreased by Wells Fargo & Company from $43.00 to $38.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the chip maker’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 20.06% from the stock’s current price.

A number of other research firms also recently weighed in on INTC. Raymond James reduced their target price on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. UBS Group increased their target price on shares of Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. The Goldman Sachs Group reduced their target price on shares of Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Friday. Citigroup reduced their target price on shares of Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.75.

Intel Stock Down 9.9 %

Shares of NASDAQ:INTC traded down $3.46 during midday trading on Friday, hitting $31.65. 91,101,109 shares of the company’s stock were exchanged, compared to its average volume of 47,776,777. Intel has a 12 month low of $26.85 and a 12 month high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The stock has a 50 day moving average price of $41.11 and a 200-day moving average price of $42.25. The company has a market cap of $133.82 billion, a PE ratio of 81.28, a price-to-earnings-growth ratio of 3.13 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. During the same period in the prior year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Intel will post 0.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Large investors have recently added to or reduced their stakes in the business. New Millennium Group LLC boosted its position in shares of Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares during the period. Frazier Financial Advisors LLC bought a new position in shares of Intel in the fourth quarter worth approximately $27,000. Burkett Financial Services LLC bought a new position in shares of Intel in the fourth quarter worth approximately $27,000. Tributary Capital Management LLC bought a new position in shares of Intel in the first quarter worth approximately $27,000. Finally, Legacy Financial Group LLC bought a new position in shares of Intel in the third quarter worth approximately $30,000. 64.53% of the stock is currently owned by 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.