Morgan Stanley Has Lowered Expectations for Intel (NASDAQ:INTC) Stock Price

Intel (NASDAQ:INTC) had its price objective cut by equities researchers at Morgan Stanley from $25.00 to $23.00 in a report issued on Friday, MarketBeat Ratings reports. The firm currently has an “equal weight” rating on the chip maker’s stock. Morgan Stanley’s price target suggests a potential upside of 14.71% from the company’s current price.

Several other brokerages have also commented on INTC. Roth Mkm decreased their price objective on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. UBS Group decreased their price target on Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Mizuho dropped their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Stifel Nicolaus decreased their target price on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Finally, Barclays reiterated a “reduce” rating on shares of Intel in a research note on Tuesday. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus price target of $22.23.

Intel Price Performance

Intel stock opened at $20.05 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market cap of $87.43 billion, a P/E ratio of -4.58 and a beta of 1.13. The company has a 50-day moving average price of $21.92 and a 200 day moving average price of $21.86. Intel has a 12-month low of $17.67 and a 12-month high of $37.16.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, beating the consensus estimate of $0.01 by $0.12. The firm had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. During the same quarter in the previous year, the company earned $0.18 EPS. Sell-side analysts anticipate that Intel will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Intel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INTC. Relyea Zuckerberg Hanson LLC lifted its position in shares of Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after buying an additional 19,625 shares during the last quarter. Principal Financial Group Inc. raised its stake in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in Intel in the fourth quarter valued at $276,000. InvesTrust acquired a new position in Intel in the fourth quarter valued at $3,696,000. Finally, Rheos Capital Works Inc. grew its holdings in shares of Intel by 12.1% during the fourth quarter. Rheos Capital Works Inc. now owns 277,000 shares of the chip maker’s stock worth $5,554,000 after purchasing an additional 30,000 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

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.