Northland Securities Lowers Intel Price Target to $28.00

Intel (NASDAQ:INTC) has recently faced a drop in its price target, as Northland Securities updated their forecast from $42.00 to $28.00. This change was announced in a research note released on Friday, and the firm maintains an "outperform" rating for the stock, suggesting that it could yield a potential increase of 20.79% from its current value.

Analyst Perspectives

Intel is currently under review by several other analysts as well. Notably, Wedbush cut their target price from $32.50 to $25.00 and assigned a "neutral" rating on August 2nd. Similarly, Mizuho downgraded Intel from an "outperform" to a "neutral" rating with a reduced price target of $22.00 on August 8th. Further, Argus lowered their recommendation from "buy" to "hold" on August 6th, while HSBC rated the stock as "reduce" on August 2nd. Cantor Fitzgerald also decreased their price target from $40.00 to $27.00, giving it a neutral rating. Currently, six analysts classify the stock as a sell, while twenty-five analysts suggest holding it and one analyst recommends buying. The overall consensus rating stands at "Hold" with an average target price of $30.12.

Recent Stock Performance

On Friday, Intel's stock rose by $1.66, reaching $23.18. A total of 124,721,664 shares changed hands, markedly higher than the average trading volume of 59,157,789 shares. Key metrics reveal a debt-to-equity ratio of 0.40, a current ratio of 1.59, and a quick ratio of 1.24. Over the past year, Intel's stock has seen a low of $18.51 and a high of $51.28. The stock’s 50-day moving average is $21.74, while the 200-day moving average stands at $27.12. Its market capitalization is approximately $99.12 billion, with a current price-to-earnings ratio of -6.19 and a beta of 1.03.

Financial Results Overview

Intel recently released its quarterly earnings report on August 1st, where it posted an earnings per share (EPS) of $0.02. This figure fell short of the analysts' expectations of $0.10 by $0.08. The company recorded a net margin of 1.77% and a return on equity of 1.78%, with revenue of $12.80 billion, slightly below the forecast of $12.92 billion. Compared to the same quarter last year, revenue declined by 0.8%. Analysts predict that Intel's EPS for the current fiscal year will be around -0.47.

Recent Insider Trading

In related developments, Intel's CEO Patrick P. Gelsinger acquired 12,500 shares at an average price of $20.16 each, totaling $252,000, on August 5th. Following this transaction, Gelsinger holds 37,975 shares in the company worth approximately $765,576. This reflects a negligible increase in their ownership stake. Insider ownership currently stands at only 0.04% of the total shares.

Institutional Activity

Several institutional investors have made strategic adjustments to their holdings in Intel. Capital International Investors boosted their shareholding by 16.0% in the first quarter, now holding 112,093,582 shares valued at around $4.95 billion. Van ECK Associates Corp significantly increased their stake by 60.5%, possessing 34,591,800 shares valued at $1.07 billion after acquiring an additional 13,035,566 shares. Davis Selected Advisers raised their holdings by 86.2%, now owning 12,642,316 shares worth $391.53 million. Additionally, the Healthcare of Ontario Pension Plan Trust Fund increased its stake by a staggering 2,681.1%, amassing 4,431,749 shares valued at approximately $137.25 million. Overall, institutional investors hold 64.53% of Intel's stock.

About Intel Corporation

Intel Corporation is a leading global company specializing in the design, development, manufacturing, marketing, and sale of computing and related products and services. It operates through multiple segments including Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. The company's wide range of products includes central processing units, chipsets, system-on-chips, processors for mobile and desktop devices, hardware products such as graphics processing units, and semiconductor products related to memory, storage, and networking.

Intel, Price, Target