Wedbush Trims Intel (NASDAQ:INTC) Target Price to $32.50

Intel (NASDAQ:INTC) had its price objective cut by analysts at Wedbush from $40.00 to $32.50 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the chip maker’s stock. Wedbush’s price target indicates a potential upside of 2.14% from the stock’s current price.

A number of other brokerages have also recently weighed in on INTC. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday. HSBC lowered their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday. The Goldman Sachs Group reduced their target price on shares of Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research note on Friday. Wells Fargo & Company reduced their price objective on shares of Intel from $48.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. Finally, Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Friday. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.32.

Intel Stock Performance

Intel stock traded down $3.29 during trading hours on Friday, hitting $31.82. 62,638,430 shares of the stock traded hands, compared to its average volume of 47,379,789. The firm’s 50 day moving average price is $41.11 and its 200-day moving average price is $42.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The stock has a market capitalization of $134.53 billion, a price-to-earnings ratio of 81.46, a P/E/G ratio of 3.13 and a beta of 1.00. Intel has a 1 year low of $26.85 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. As a group, equities analysts expect that Intel will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Mesirow Financial Investment Management Inc. purchased a new stake in Intel in the first quarter valued at $6,288,000. Carr Financial Group Corp increased its holdings in Intel by 11.1% in the first quarter. Carr Financial Group Corp now owns 8,825 shares of the chip maker’s stock valued at $390,000 after buying an additional 884 shares in the last quarter. MONECO Advisors LLC increased its holdings in Intel by 21.8% during the 1st quarter. MONECO Advisors LLC now owns 16,921 shares of the chip maker’s stock valued at $747,000 after acquiring an additional 3,034 shares in the last quarter. KG&L Capital Management LLC purchased a new position in Intel during the first quarter worth $601,000. Finally, Verdence Capital Advisors LLC increased its stake in shares of Intel by 1.8% during the 1st quarter. Verdence Capital Advisors LLC now owns 67,759 shares of the chip maker’s stock valued at $2,993,000 after acquiring an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors 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.