Intel (NASDAQ:INTC) Stock Price Expected to Rise, Truist Financial Analyst Says

Intel (NASDAQ:INTC) had its price objective increased by Truist Financial from $25.00 to $26.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the chip maker’s stock. Truist Financial’s price target suggests a potential upside of 12.51% from the company’s current price.

INTC has been the topic of several other research reports. Wedbush lowered their price target on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Morgan Stanley lowered their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six equities 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, the stock presently has an average rating of “Hold” and an average target price of $30.62.

Intel Stock Up 7.4 %

Shares of NASDAQ INTC traded up $1.59 during mid-day trading on Friday, reaching $23.11. 62,671,242 shares of the company’s stock were exchanged, compared to its average volume of 58,865,098. The business has a fifty day simple moving average of $21.74 and a 200 day simple moving average of $27.12. Intel has a twelve month low of $18.51 and a twelve month high of $51.28. The firm has a market capitalization of $98.82 billion, a price-to-earnings ratio of 100.00 and a beta of 1.03. 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 announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. During the same period in the prior year, the business posted ($0.05) EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities analysts expect that Intel will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel 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 purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

A number of large investors have recently modified their holdings of INTC. Guardian Capital Advisors LP grew its holdings in shares of Intel by 2.1% during the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after buying an additional 328 shares during the last quarter. Richard C. Young & CO. LTD. lifted its position in Intel by 0.9% in the 1st quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock valued at $1,656,000 after acquiring an additional 338 shares in the last quarter. Key Financial Inc lifted its position in Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after acquiring an additional 340 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. lifted its position in Intel by 5.0% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,151 shares of the chip maker’s stock valued at $316,000 after acquiring an additional 342 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Intel by 3.9% in the 1st quarter. Proficio Capital Partners LLC now owns 9,067 shares of the chip maker’s stock valued at $400,000 after acquiring an additional 343 shares in the last quarter. 64.53% of the stock is currently owned by 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.