Intel Co. (NASDAQ:INTC) Receives $21.57 Average Target Price from Brokerages

Intel Co. (NASDAQ:INTC - Get Free Report) has been given an average recommendation of "Reduce" by the thirty-one brokerages that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a sell recommendation, twenty-four have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $21.57.

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Intel from a "sell" rating to a "hold" rating in a report on Saturday. Barclays restated a "reduce" rating on shares of Intel in a research note on Tuesday, April 22nd. Seaport Res Ptn upgraded Intel to a "strong sell" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reduced their price objective on shares of Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Intel in a report on Friday, April 25th.

Intel Stock Performance

INTC traded down $0.18 during trading on Wednesday, hitting $20.37. 45,310,315 shares of the company traded hands, compared to its average volume of 80,987,688. The firm has a market cap of $88.85 billion, a P/E ratio of -4.65 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel has a one year low of $17.67 and a one year high of $37.16. The stock's fifty day moving average is $20.92 and its 200 day moving average is $21.51.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, beating the consensus estimate of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The business had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same quarter in the prior year, the business earned $0.18 earnings per share. Intel's revenue for the quarter was down .4% on a year-over-year basis. As a group, equities analysts predict that Intel will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Intel

Several institutional investors have recently added to or reduced their stakes in INTC. Norges Bank purchased a new stake in Intel in the fourth quarter worth $1,246,569,000. Nuveen LLC purchased a new position in Intel in the 1st quarter worth approximately $538,430,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 99.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,829,385 shares of the chip maker's stock valued at $677,426,000 after purchasing an additional 14,901,457 shares in the last quarter. Two Sigma Advisers LP bought a new position in Intel during the 4th quarter valued at about $289,752,000. Finally, Two Sigma Investments LP bought a new position in Intel during the fourth quarter valued at approximately $237,457,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

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.