JPMorgan Chase & Co. Issues Pessimistic Forecast for Intel (NASDAQ:INTC) Stock Price

Intel (NASDAQ:INTC) had its price target decreased by JPMorgan Chase & Co. from $26.00 to $23.00 in a research note published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the chip maker’s stock.

Several other equities research analysts also recently issued reports on the stock. Bank of America reiterated an “underperform” rating and issued a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday. Citigroup decreased their target price on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Truist Financial dropped their price target on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday. Finally, HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Five analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.60.

Intel Stock Performance

Shares of NASDAQ INTC opened at $19.43 on Friday. The stock has a market capitalization of $83.80 billion, a PE ratio of -5.22, a price-to-earnings-growth ratio of 9.64 and a beta of 1.07. Intel has a 52 week low of $18.51 and a 52 week high of $46.63. The stock has a 50 day moving average price of $20.78 and a 200 day moving average price of $22.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Analysts predict that Intel will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several institutional investors and hedge funds have recently modified their holdings of INTC. Quest Partners LLC lifted its holdings in shares of Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares during the last quarter. Finley Financial LLC bought a new position in Intel in the 4th quarter valued at approximately $25,000. Keystone Financial Group Inc. bought a new position in Intel in the 4th quarter valued at approximately $29,000. FSA Wealth Management LLC acquired a new stake in Intel in the third quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Intel during the third quarter worth $36,000. 64.53% of the stock is currently owned by institutional investors.

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.