Intel Corporation [INTC] stock Reiterated by Needham analyst, price target now $32

Intel Corporation [NASDAQ: INTC] loss -1.93% or -0.51 points to close at $25.91 with a heavy trading volume of 48121955 shares. The company report on October 5, 2022 that Intel to Report Third-Quarter 2022 Financial Results.

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Intel Corporation today announced that it will report third-quarter 2022 financial results on Thursday, Oct. 27, 2022, promptly after close of market. Intel will then hold an earnings conference call at 2 p.m. PDT that day to discuss the results.

A live public webcast of the earnings conference call can be accessed on Intel’s Investor Relations website at Associated materials and webcast replay will be available on the site.

It opened the trading session at $26.46, the shares rose to $26.63 and dropped to $25.76, the range by which the price of stock traded the whole day. The daily chart for INTC points out that the company has recorded -43.27% loss over the past six months. However, it is still -5.37% lower than its most recent low trading price.

If we look at the average trading volume of 42.21M shares, INTC reached to a volume of 48121955 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Intel Corporation [INTC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for INTC shares is $35.51 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on INTC stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Intel Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 11, 2022. While these analysts kept the previous recommendation, Stifel raised their target price to Hold. The new note on the price target was released on September 08, 2022, representing the official price target for Intel Corporation stock. Previously, the target price had yet another raise to $30, while DZ Bank analysts kept a Sell rating on INTC stock. On July 29, 2022, analysts decreased their price target for INTC shares from 40 to 33.

The Average True Range (ATR) for Intel Corporation is set at 1.02, with the Price to Sales ratio for INTC stock in the period of the last 12 months amounting to 1.48. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 6.46. Price to Free Cash Flow for INTC in the course of the last twelve months was 7.01 with Quick ratio for the last quarter at 1.40.

Trading performance analysis for INTC stock

Intel Corporation [INTC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.74. With this latest performance, INTC shares dropped by -10.16% in over the last four-week period, additionally sinking by -43.27% over the last 6 months – not to mention a drop of -51.93% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for INTC stock in for the last two-week period is set at 36.81, with the RSI for the last a single of trading hit 40.10, and the three-weeks RSI is set at 35.32 for Intel Corporation [INTC]. The present Moving Average for the last 50 days of trading for this stock 30.65, while it was recorded at 25.58 for the last single week of trading, and 41.52 for the last 200 days.

Intel Corporation [INTC]: A deeper dive into fundamental analysis

Intel Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.90.

Intel Corporation [INTC]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for INTC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Intel Corporation go to -0.16%.

An analysis of insider ownership at Intel Corporation [INTC]

There are presently around $66,633 million, or 64.10% of INTC stock, in the hands of institutional investors. The top three institutional holders of INTC stocks are: VANGUARD GROUP INC with ownership of 357,801,794, which is approximately 2.336% of the company’s market cap and around 0.06% of the total institutional ownership; BLACKROCK INC., holding 347,950,205 shares of the stock with an approximate value of $9.02 billion in INTC stocks shares; and STATE STREET CORP, currently with $4.56 billion in INTC stock with ownership of nearly -1.588% of the company’s market capitalization.

1,308 institutional holders increased their position in Intel Corporation [NASDAQ:INTC] by around 152,458,309 shares. Additionally, 1,355 investors decreased positions by around 119,956,110 shares, while 251 investors held positions by with 2,299,307,006 shares. The mentioned changes placed institutional holdings at 2,571,721,425 shares, according to the latest SEC report filing. INTC stock had 111 new institutional investments in for a total of 17,141,030 shares, while 256 institutional investors sold positions of 8,223,536 shares during the same period.


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