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

Intel (NASDAQ:INTC - Free Report) had its price objective boosted by Citigroup from $21.00 to $24.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the chip maker's stock.

Several other equities research analysts also recently commented on INTC. Cfra Research raised Intel to a "hold" rating in a report on Friday, April 25th. Wedbush decreased their price objective on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Rosenblatt Securities decreased their price objective on shares of Intel from $18.00 to $14.00 and set a "sell" rating for the company in a report on Friday, April 25th. Mizuho boosted their price objective on shares of Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, April 25th. Five research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Intel currently has a consensus rating of "Hold" and an average price target of $21.76.

Intel Stock Up 7.2%

Shares of INTC stock traded up $1.59 during trading hours on Monday, hitting $23.59. 119,038,443 shares of the company's stock traded hands, compared to its average volume of 86,482,436. The stock's fifty day simple moving average is $21.07 and its two-hundred day simple moving average is $21.23. Intel has a 12-month low of $17.67 and a 12-month high of $37.16. The stock has a market cap of $102.90 billion, a price-to-earnings ratio of -5.27 and a beta of 1.15. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Intel (NASDAQ:INTC - Get Free Report) last released its earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The business had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same period in the previous year, the company posted $0.18 earnings per share. The company's revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts expect that Intel will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Intel

Several large investors have recently made changes to their positions in INTC. Assetmark Inc. raised its stake in Intel by 121.8% during the 4th quarter. Assetmark Inc. now owns 5,286 shares of the chip maker's stock valued at $106,000 after purchasing an additional 2,903 shares during the period. Proficio Capital Partners LLC bought a new stake in Intel during the 4th quarter valued at approximately $1,789,000. Raymond James Financial Inc. purchased a new position in Intel during the 4th quarter valued at approximately $53,465,000. Callan Family Office LLC purchased a new position in Intel during the 4th quarter valued at approximately $279,000. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in Intel by 16.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 184,802 shares of the chip maker's stock valued at $4,089,000 after buying an additional 25,838 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other 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.