Wells Fargo & Company Lowers Intel (NASDAQ:INTC) Price Target to $22.00

Intel (NASDAQ:INTC - Get Free Report) had its price target reduced by analysts at Wells Fargo & Company from $25.00 to $22.00 in a research note issued on Friday, Marketbeat reports. The firm presently has an "equal weight" rating on the chip maker's stock. Wells Fargo & Company's target price would suggest a potential upside of 6.93% from the company's previous close.

A number of other analysts have also issued reports on INTC. Mizuho decreased their target price on shares of Intel from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Bank of America upgraded Intel from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $19.00 to $25.00 in a research report on Thursday, March 13th. Benchmark restated a "hold" rating on shares of Intel in a report on Friday. Wedbush cut their price objective on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Finally, Susquehanna cut their target price on Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Five equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Intel presently has a consensus rating of "Hold" and a consensus price target of $22.23.

Intel Price Performance

Shares of NASDAQ INTC traded up $0.07 on Friday, hitting $20.58. The company's stock had a trading volume of 36,248,341 shares, compared to its average volume of 79,360,413. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The stock has a 50 day moving average of $21.82 and a 200-day moving average of $21.83. Intel has a 12-month low of $17.67 and a 12-month high of $37.16. The company has a market capitalization of $89.72 billion, a price-to-earnings ratio of -4.71 and a beta of 1.13.

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

Hedge Funds Weigh In On Intel

A number of large investors have recently bought and sold shares of INTC. Morse Asset Management Inc acquired a new stake in shares of Intel in the 3rd quarter worth about $354,000. Advisory Resource Group increased its stake in shares of Intel by 6.7% in the third quarter. Advisory Resource Group now owns 16,579 shares of the chip maker's stock valued at $389,000 after purchasing an additional 1,034 shares during the period. SOA Wealth Advisors LLC. raised its holdings in shares of Intel by 7.3% during the third quarter. SOA Wealth Advisors LLC. now owns 9,076 shares of the chip maker's stock valued at $213,000 after buying an additional 615 shares during the last quarter. World Investment Advisors LLC boosted its position in shares of Intel by 59.6% during the third quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker's stock worth $1,009,000 after buying an additional 16,046 shares during the period. Finally, Denver PWM LLC grew its holdings in Intel by 752.1% in the 3rd quarter. Denver PWM LLC now owns 26,425 shares of the chip maker's stock worth $620,000 after buying an additional 23,324 shares in the last quarter. 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.