Intel (NASDAQ:INTC) Stock Rating Reaffirmed by Wedbush

Intel (NASDAQ:INTC)‘s stock had its “neutral” rating restated by equities research analysts at Wedbush in a report issued on Wednesday, Benzinga reports. They presently have a $40.00 price target on the chip maker’s stock. Wedbush’s target price points to a potential upside of 12.11% from the company’s previous close.

A number of other analysts also recently issued reports on INTC. Wells Fargo & Company cut their price objective on Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. Truist Financial reissued a “hold” rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Bank of America cut their price objective on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Rosenblatt Securities restated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, February 23rd. Finally, Morgan Stanley raised their target price on Intel from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.62.

Intel Trading Down 1.6 %

Shares of INTC traded down $0.58 during midday trading on Wednesday, reaching $35.68. The company had a trading volume of 39,316,589 shares, compared to its average volume of 46,695,355. Intel has a 1-year low of $26.85 and a 1-year high of $51.28. The stock has a market cap of $150.86 billion, a PE ratio of 91.28, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00. The firm has a 50 day simple moving average of $42.32 and a 200-day simple moving average of $42.40. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43.

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. The firm had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. Research analysts forecast that Intel will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Intel

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barrett & Company Inc. grew its stake in shares of Intel by 6.1% in the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after buying an additional 210 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Intel by 3.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after buying an additional 216 shares in the last quarter. New Millennium Group LLC grew its stake 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 valued at $25,000 after buying an additional 231 shares in the last quarter. Waldron Private Wealth LLC grew its stake in shares of Intel by 0.6% in the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after buying an additional 232 shares in the last quarter. Finally, Virtue Capital Management LLC grew its stake in shares of Intel by 3.3% in the fourth quarter. Virtue Capital Management LLC now owns 7,580 shares of the chip maker’s stock valued at $355,000 after buying an additional 245 shares in 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.