Robert W. Baird Forecasts Strong Price Appreciation for Intel (NASDAQ:INTC) Stock

Intel (NASDAQ:INTC) had its target price increased by Robert W. Baird from $20.00 to $25.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the chip maker’s stock.

A number of other analysts also recently commented on INTC. Truist Financial decreased their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Cantor Fitzgerald decreased their target price on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Finally, TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.12.

Intel Stock Down 2.9 %

Shares of Intel stock opened at $22.52 on Friday. Intel has a 52 week low of $18.51 and a 52 week high of $51.28. The business has a 50 day moving average price of $21.84 and a 200-day moving average price of $26.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. Equities research analysts predict that Intel will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On Intel

Hedge funds have recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. bought a new stake in Intel during the second quarter worth about $2,178,000. Fortis Group Advisors LLC lifted its stake in shares of Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after acquiring an additional 157,991 shares during the last quarter. Private Advisory Group LLC bought a new stake in shares of Intel in the 3rd quarter valued at about $8,045,000. Sanibel Captiva Trust Company Inc. lifted its stake in shares of Intel by 21.1% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock valued at $6,559,000 after acquiring an additional 48,765 shares during the last quarter. Finally, Forsta AP Fonden lifted its stake in shares of Intel by 4.6% in the 3rd quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock valued at $22,267,000 after acquiring an additional 41,900 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

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.