Intel (NASDAQ:INTC) Given New $23.00 Price Target at Mizuho

Intel (NASDAQ:INTC) had its target price boosted by Mizuho from $22.00 to $23.00 in a report published on Friday, Benzinga reports. The firm currently has a neutral rating on the chip maker’s stock.

Several other equities research analysts have also commented on INTC. Barclays decreased their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reduced their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Finally, Argus downgraded Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average price target of $30.12.

Intel Price Performance

Shares of NASDAQ INTC opened at $22.52 on Friday. The stock has a fifty day moving average price of $21.84 and a 200 day moving average price of $26.81. Intel has a 1-year low of $18.51 and a 1-year high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The company has a market cap of $96.30 billion, a PE ratio of -6.05 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts forecast that Intel will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. America First Investment Advisors LLC acquired a new position in shares of Intel in the 2nd quarter valued at about $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel during the second quarter valued at approximately $27,000. Spartan Fund Management Inc. purchased a new stake in Intel during the second quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new stake in shares of Intel in the second quarter worth $32,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Intel in the 2nd quarter valued at $33,000. 64.53% of the stock is owned by hedge funds and other 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.