Intel (NASDAQ:INTC) Stock Price Target Cut by Bank of America

Intel (NASDAQ:INTC) had its price objective lowered by stock analysts at Bank of America from $100.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the chip maker’s stock. Bank of America‘s target price indicates a potential upside of 28.63% from the stock’s previous close.

INTC has been the topic of a number of other research reports. Tigress Financial lifted their price target on shares of Intel from $118.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Morgan Stanley set a $85.00 price objective on Intel in a report on Monday, October 19th. UBS Group lowered Intel from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research report on Friday, October 30th. TD Cowen reduced their target price on Intel from $95.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, October 30th. Finally, National Bank Financial set a $85.00 price target on Intel in a research report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twenty-eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $96.93.

Intel Trading Down 0.5%

Shares of INTC stock traded down $0.30 during trading hours on Thursday, hitting $62.20. 48,199,568 shares of the company were exchanged, compared to its average volume of 118,949,234. The firm has a market cap of $330.57 billion, a PE ratio of -25.75, a PEG ratio of 6.22 and a beta of 2.42. Intel has a 1 year low of $32.89 and a 1 year high of $142.35. The company has a quick ratio of 1.95, a current ratio of 2.31 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $96.19 and a 200 day moving average of $86.73.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 29th. The chip maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.11. Intel had a negative net margin of 20.09% and a positive return on equity of 4.70%. The firm had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.56 billion. During the same period in the previous year, the firm earned $0.23 earnings per share. Intel’s revenue was up 20.9% compared to the same quarter last year. Analysts expect that Intel will post 1.04 earnings per share for the current year.

Insiders Place Their Bets

In other Intel news, CEO Lip Tan purchased 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average cost of $64.73 per share, with a total value of $9,709,500.00. Following the transaction, the chief executive officer owned 1,464,669 shares in the company, valued at approximately $94,808,024.37. This trade represents a 11.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC purchased a new stake in shares of Intel in the third quarter worth about $25,000. Montgomery Financial Services LLC acquired a new position in Intel during the 2nd quarter worth approximately $26,000. Next Level Wealth Planning LLC acquired a new position in Intel during the 3rd quarter worth approximately $28,000. Glynn Capital Management LLC purchased a new position in Intel in the 2nd quarter worth approximately $29,000. Finally, Knuff & Co LLC purchased a new position in Intel in the 2nd quarter worth approximately $29,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Intel

Investors following INTC have been watching these stories:

• Positive Sentiment: CEO Lip-Bu Tan bought 150,000 Intel shares for about $9.7 million on Nov. 2, a sizable personal investment that may signal confidence in the company, though it does not resolve its operating challenges. Article: Intel CEO stock purchase
• Neutral Sentiment: Recent results offered some support: Intel reported year-over-year revenue growth and strong data-center demand. However, coverage also points to a weak PC outlook, cash burn, and lower estimates as risks to the turnaround. Article: Intel selloff and consolidation
• Negative Sentiment: Reports about Nvidia CEO Jensen Huang’s possible departure have rattled chip stocks, including Intel. Nvidia’s roughly $5 billion investment in Intel is now worth about $13.4 billion; analysts see forced selling as unlikely, but uncertainty could slow future deals and cloud the strategic relationship. Article: Huang’s potential exit and Nvidia’s Intel stake

About Intel

Intel Corporation is a semiconductor company that designs and manufactures processors and related technologies. Its products include central processing units for personal computers and servers, graphics and AI accelerators, and platforms and components for data center, networking, and edge computing applications. The company also operates Intel Foundry, which provides semiconductor manufacturing, packaging, and related services for Intel and external customers. Intel serves customers and businesses around the world through its products, technologies, and manufacturing operations.