Wedbush Reaffirms Neutral Rating for Intel (NASDAQ:INTC)

Intel (NASDAQ:INTC - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at Wedbush in a research report issued on Wednesday, Benzinga reports. They presently have a $40.00 price objective on the chip maker's stock. Wedbush's price objective points to a potential upside of 12.11% from the stock's previous close.

A number of other equities analysts have also issued reports on INTC. Stifel Nicolaus reissued a "hold" rating and set a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Bank of America cut their target price on shares of Intel from $50.00 to $44.00 and set a "neutral" rating for the company in a report on Friday, April 12th. UBS Group lifted their target price on shares of Intel from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Monday, April 1st. Evercore ISI initiated coverage on shares of Intel in a report on Tuesday. They set an "in-line" rating and a $40.00 target price for the company. Finally, HSBC cut their target price on shares of Intel from $46.00 to $44.00 and set a "hold" rating for the company in a report on Friday, January 26th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Intel has a consensus rating of "Hold" and an average target price of $42.62.

Intel Stock Performance

INTC traded down $0.58 during trading on Wednesday, reaching $35.68. 41,140,963 shares of the company's stock were exchanged, compared to its average volume of 46,921,805. Intel has a 1 year low of $26.85 and a 1 year high of $51.28. 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 $150.86 billion, a P/E ratio of 91.49, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00. The company's fifty day simple moving average is $42.18 and its 200-day simple moving average is $42.35.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. During the same period last year, the firm posted $0.10 EPS. Intel's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts predict that Intel will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction on Monday, January 29th. The shares were bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the stock in a transaction dated Monday, January 29th. The shares were purchased at an average price of $43.36 per share, with a total value of $130,080.00. Following the transaction, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. New Millennium Group LLC boosted its position in shares of Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker's stock valued at $25,000 after acquiring an additional 231 shares during the last quarter. Cornerstone Planning Group LLC purchased a new stake in Intel in the 2nd quarter valued at about $25,000. Frazier Financial Advisors LLC purchased a new stake in Intel in the 4th quarter valued at about $27,000. Burkett Financial Services LLC purchased a new stake in Intel in the 4th quarter valued at about $27,000. Finally, Hanseatic Management Services Inc. purchased a new stake in Intel in the 4th quarter valued at about $27,000. Institutional investors and hedge funds 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.