UBS Group Cuts Intel (NASDAQ:INTC) Price Target to $23.00

Intel (NASDAQ:INTC) had its price target reduced by UBS Group from $26.00 to $23.00 in a research note released on Tuesday morning,Benzinga reports. UBS Group currently has a neutral rating on the chip maker’s stock.

Other equities analysts have also recently issued research reports about the company. Citigroup lowered their target price on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Mizuho dropped their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.81.

Intel Stock Performance

NASDAQ:INTC opened at $21.57 on Tuesday. Intel has a twelve month low of $18.51 and a twelve month high of $50.30. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The stock’s 50-day simple moving average is $21.37 and its 200 day simple moving average is $23.12. The firm has a market capitalization of $93.03 billion, a PE ratio of -5.80, a price-to-earnings-growth ratio of 9.59 and a beta of 1.07.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. On average, analysts anticipate that Intel will post -0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently added to or reduced their stakes in INTC. Finley Financial LLC purchased a new position in shares of Intel during the fourth quarter valued at approximately $25,000. Quest Partners LLC boosted its holdings in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares during the last quarter. West Financial Advisors LLC bought a new stake in shares of Intel in the 4th quarter worth $31,000. Groupama Asset Managment raised its holdings in shares of Intel by 6.3% in the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after purchasing an additional 8,084 shares during the last quarter. Finally, Sawyer & Company Inc bought a new position in shares of Intel during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.