Intel Corporation Stock Forecast:
The average target price for Intel Corporation‘s stock, as forecasted by 30 analysts, is $27.52 within the next year. The average analyst rating for the company is “Hold.” Stock Target Advisor’s analysis of Intel Corporation is “Slightly Bearish,” with 6 positive signals and 9 negative signals. The stock’s current price is $30.09, and it has seen a change of +5.88% in the past week, +15.33% in the past month, and -41.79% over the past year.
Intel Corp. News:
Intel’s stock dropped by up to 9% during after-hours trading on Thursday following the release of their fourth-quarter results, which did not meet analysts’ expectations and had a lackluster forecast.
Intel reported a 32% decrease in revenue for the quarter ending December 31st, marking the fourth consecutive quarter of declining sales. The company also reported a net loss of $664 million, compared to a profit of $4.62 billion in the previous year’s quarter.
Intel anticipates further financial struggles in the first quarter, forecasting an adjusted net loss of 15 cents per share on revenue of $10.5 billion to $11.5 billion, lower than the earnings of 24 cents per share and $13.93 billion in revenue expected by analysts.
Intel’s Client Computing Group, which deals with PC chips, generated $6.63 billion in revenue during Q4, a decrease of 36%. This figure was below the expected $7.68 billion as predicted by analysts surveyed by StreetAccount. The decrease in demand was mainly seen in the consumer and education markets, and customers reduced their inventory.
Analysts Coverage Change (INTC:NSD):
- Mizuho Securities lowers the price target to $29 from $32 on the company.
- Rosenblatt Securities maintains Sell rating and lowers the price target to $17 from $20.
- Credit Suisse Group lowers the price target to $25 from $28.
- Cowen lowers the price target to $26 from $31.
- J.P. Morgan Chase & Co. maintains an Underweight rating and lowers price target to $28 from $32.
- Bank of America Merrill Lynch lowers the price target to $25 from $28.
- Deutsche Bank maintains Hold rating and lowers the price target to $28 from $32.
- Barclays maintains Equal-Weight rating and lowers the price target to $27 from $30.