Northland Securities Lowers Intel's Price Target to $28.00

Intel (NASDAQ:INTC) has received a significant downgrade from Northland Securities, which has slashed its price target on the company's stock from $42.00 to $28.00. This adjustment was detailed in a research note released on Friday. Despite the reduction, Northland Securities continues to maintain an "outperform" rating on Intel's shares. With the new target price, there is still a potential upside of approximately 20.79% based on the current market price.

Recent Analyst Reports

The downward revision by Northland Securities follows a series of other negative assessments from different analysts. On August 2nd, Wedbush lowered its price target for Intel from $32.50 to $25.00 while issuing a "neutral" rating. Mizuho also downgraded Intel's rating from "outperform" to "neutral" and reduced its target from $36.00 to $22.00 on August 8th. Furthermore, Argus changed its stance from a "buy" rating to a "hold" rating on August 6th, while HSBC downgraded the stock from "hold" to "reduce" on the same date. Cantor Fitzgerald also revised its price target down from $40.00 to $27.00, placing a "neutral" rating on the shares.

Current Analyst Consensus

According to data from MarketBeat.com, Intel has received six sell ratings, twenty-five hold ratings, and one buy rating. The consensus rating for the stock is currently classified as "Hold," with an average target price of $30.12.

Intel Stock Overview

On the trading day following the report, Intel's stock experienced an increase of $1.66, reaching a price of $23.18. A total of 124,721,664 shares were traded, significantly higher than its average trading volume of 59,157,789 shares. The company's financial metrics include a debt-to-equity ratio of 0.40, a current ratio of 1.59, and a quick ratio of 1.24. Over the last twelve months, Intel's stock has fluctuated between a low of $18.51 and a high of $51.28. Its fifty-day moving average stands at $21.74, and its 200-day moving average at $27.12, with a market capitalization of $99.12 billion and a P/E ratio of -6.19.

Earnings Report Highlights

Intel's recent quarterly earnings report, released on August 1st, showed an earnings per share (EPS) of $0.02, which fell short of analysts' expectations of $0.10. Additionally, the company reported a net margin of 1.77% and a return on equity of 1.78%. The revenue for the quarter was recorded at $12.80 billion, compared to the anticipated $12.92 billion. This revenue represented a year-over-year decline of 0.8%. Analysts foresee that Intel will post an EPS of -0.47 for the current fiscal year.

Insider Transactions at Intel

In a move indicating confidence in the company's future, Intel's CEO, Patrick P. Gelsinger, acquired 12,500 shares on August 5th at an average price of $20.16 each, amounting to a total investment of $252,000. Following this transaction, Gelsinger holds 37,975 shares valued at approximately $765,576, showing a 0.00% change in his overall ownership. This transaction was documented in a filing with the SEC.

Institutional Investor Activity

Intel has also seen notable activity among institutional investors. For instance, Capital International Investors increased its stake by 16.0% during the first quarter, now owning over 112 million shares. Van ECK Associates Corp raised its position by 60.5% in the second quarter, and Davis Selected Advisers expanded its holdings by 86.2%. Currently, institutional investors control approximately 64.53% of Intel's shares.

About the Company

Intel Corporation is a global leader in designing, manufacturing, and selling computing products and services. The company operates through several segments, including Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. Its product range includes central processing units (CPUs), mobile and desktop processors, graphics processing units (GPUs), and other semiconductor products.

Intel, Target, Stock