Intel (NASDAQ:INTC) Price Target Lowered to $21.00 at Mizuho

Intel (NASDAQ:INTC) had its price target lowered by Mizuho from $23.00 to $21.00 in a research note released on Friday,Benzinga reports. Mizuho currently has a neutral rating on the chip maker’s stock.

A number of other research firms have also recently weighed in on INTC. Bank of America restated an “underperform” rating and issued a $21.00 price target on shares of Intel in a research note on Tuesday, December 3rd. Truist Financial boosted their target price on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Stifel Nicolaus reissued a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. TD Cowen upgraded shares of Intel to a “hold” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.96.

Intel Stock Performance

Shares of Intel stock opened at $19.15 on Friday. The business has a 50-day simple moving average of $22.03 and a 200-day simple moving average of $23.66. The company has a market cap of $82.59 billion, a PE ratio of -5.15 and a beta of 1.07. Intel has a one year low of $18.51 and a one year high of $50.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

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

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intel

Several institutional investors have recently made changes to their positions in INTC. American Century Companies Inc. boosted its stake in shares of Intel by 26.9% during the 2nd quarter. American Century Companies Inc. now owns 1,925,120 shares of the chip maker’s stock worth $59,621,000 after acquiring an additional 408,512 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in Intel by 25.8% during the second quarter. Meeder Advisory Services Inc. now owns 62,106 shares of the chip maker’s stock worth $1,923,000 after purchasing an additional 12,743 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in Intel in the second quarter valued at $2,831,000. Stoneridge Investment Partners LLC purchased a new position in shares of Intel in the second quarter valued at $2,138,000. Finally, Thoroughbred Financial Services LLC raised its stake in shares of Intel by 16.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 18,112 shares of the chip maker’s stock worth $560,000 after buying an additional 2,492 shares during the last quarter. 64.53% of the stock is currently 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.