Mizuho Boosts Intel (NASDAQ:INTC) Price Target to $23.00

Intel (NASDAQ:INTC) had its target price increased by stock analysts at Mizuho from $22.00 to $23.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the chip maker’s stock. Mizuho’s price objective indicates a potential downside of 0.86% from the company’s previous close.

A number of other research analysts have also weighed in on the company. The Goldman Sachs Group cut their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Barclays decreased their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Finally, Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $35.00 to $23.00 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 given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Trading Up 7.8 %

INTC stock opened at $23.20 on Friday. The company has a market capitalization of $99.20 billion, a price-to-earnings ratio of -6.24 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel has a 1-year low of $18.51 and a 1-year high of $51.28. The business has a 50 day simple moving average of $21.79 and a two-hundred day simple moving average of $26.96.

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

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently modified their holdings of INTC. Capital International Investors lifted its holdings in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the period. Van ECK Associates Corp lifted its stake in shares of Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the last quarter. Davis Selected Advisers boosted its position in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. Caxton Associates LP purchased a new position in Intel in the second quarter valued at about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Intel by 2,681.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after purchasing an additional 4,272,395 shares during the last quarter. 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.