Northland Securities Has Lowered Expectations for Intel (NASDAQ:INTC) Stock Price

Intel (NASDAQ:INTC) had its price objective dropped by Northland Securities from $42.00 to $28.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the chip maker’s stock. Northland Securities’ target price points to a potential upside of 20.69% from the company’s current price.

Other research analysts have also issued reports about the company. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Roth Mkm dropped their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group cut their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus target price of $30.12.

Intel Stock Up 7.8 %

INTC stock opened at $23.20 on Friday. The firm has a 50-day moving average price of $21.79 and a 200-day moving average price of $26.96. The stock has a market capitalization of $99.20 billion, a P/E ratio of -6.24 and a beta of 1.03. Intel has a 12 month low of $18.51 and a 12 month high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a negative net margin of 29.42% and a negative return on equity of 1.68%. The firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Intel will post -0.47 EPS for the current fiscal year.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

A number of institutional investors have recently added to or reduced their stakes in the business. Guardian Capital Advisors LP grew its stake in shares of Intel by 2.1% during the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after acquiring an additional 328 shares during the period. Richard C. Young & CO. LTD. lifted its holdings in Intel by 0.9% during the first quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock valued at $1,656,000 after purchasing an additional 338 shares in the last quarter. Key Financial Inc boosted its position in shares of Intel by 4.1% in the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after purchasing an additional 340 shares during the period. Comprehensive Financial Consultants Institutional Inc. increased its stake in shares of Intel by 5.0% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,151 shares of the chip maker’s stock worth $316,000 after purchasing an additional 342 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Intel by 3.9% during the 1st quarter. Proficio Capital Partners LLC now owns 9,067 shares of the chip maker’s stock valued at $400,000 after purchasing an additional 343 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.