Intel (NASDAQ:INTC) Price Target Cut to $23.00 by Analysts at JPMorgan Chase & Co.

Intel (NASDAQ:INTC) had its price objective trimmed by JPMorgan Chase & Co. from $26.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an underweight rating on the chip maker’s stock.

A number of other brokerages have also recently weighed in on INTC. Wells Fargo & Company lowered their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday. The Goldman Sachs Group lowered their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $22.00 price objective on shares of Intel in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Five analysts have rated the stock with a sell rating, twenty-seven have issued 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 an average target price of $26.60.

Intel Trading Down 2.9 %

Shares of Intel stock opened at $19.43 on Friday. Intel has a 52-week low of $18.51 and a 52-week high of $46.63. The firm has a market capitalization of $83.80 billion, a PE ratio of -5.22, a price-to-earnings-growth ratio of 9.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The company’s fifty day moving average price is $20.78 and its two-hundred day moving average price is $22.51.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. On average, analysts expect that Intel will post -0.87 EPS for the current year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Intel

Large investors have recently modified their holdings of the business. SilverOak Wealth Management LLC lifted its stake in Intel by 19.1% in the fourth quarter. SilverOak Wealth Management LLC now owns 22,360 shares of the chip maker’s stock valued at $448,000 after buying an additional 3,588 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Intel by 39.3% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 176,037 shares of the chip maker’s stock worth $3,530,000 after acquiring an additional 49,702 shares during the period. Beaton Management Co. Inc. lifted its position in Intel by 8.9% in the 4th quarter. Beaton Management Co. Inc. now owns 25,282 shares of the chip maker’s stock valued at $507,000 after acquiring an additional 2,074 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Intel by 588.6% during the 4th quarter. Venturi Wealth Management LLC now owns 8,821 shares of the chip maker’s stock worth $177,000 after purchasing an additional 7,540 shares in the last quarter. Finally, Empower Advisory Group LLC raised its stake in shares of Intel by 1.9% in the 4th quarter. Empower Advisory Group LLC now owns 72,852 shares of the chip maker’s stock valued at $1,461,000 after purchasing an additional 1,340 shares during the period. 64.53% of the stock is currently owned by institutional investors.

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.