Evercore ISI Begins Coverage on Intel (NASDAQ:INTC)

Evercore ISI started coverage on shares of Intel (NASDAQ:INTC) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an in-line rating and a $40.00 target price on the chip maker’s stock.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Intel from $38.00 to $42.00 and gave the company a hold rating in a report on Monday, December 18th. Wells Fargo & Company reduced their price target on shares of Intel from $48.00 to $43.00 and set an equal weight rating for the company in a report on Tuesday, April 9th. Raymond James reduced their price target on shares of Intel from $54.00 to $52.00 and set an outperform rating for the company in a report on Friday, January 26th. Citigroup reduced their price target on shares of Intel from $47.50 to $40.00 and set a neutral rating for the company in a report on Monday. Finally, Bank of America reduced their price target on shares of Intel from $50.00 to $44.00 and set a neutral rating for the company in a report on Friday, April 12th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $42.62.

Intel Stock Down 1.8 %

Shares of NASDAQ:INTC opened at $35.04 on Tuesday. Intel has a 52 week low of $26.85 and a 52 week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The company has a market capitalization of $148.15 billion, a PE ratio of 89.85, a PEG ratio of 3.21 and a beta of 1.00. The company has a 50 day moving average price of $42.03 and a two-hundred day moving average price of $42.30.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts forecast that Intel will post 0.62 earnings per share for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Tuesday, February 6th. Intel’s dividend payout ratio is currently 128.21%.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was bought at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the transaction, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several large investors have recently modified their holdings of the stock. New Millennium Group LLC increased its position in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares during the period. Cornerstone Planning Group LLC bought a new position in Intel during the second quarter worth about $25,000. Frazier Financial Advisors LLC bought a new position in Intel during the fourth quarter worth about $27,000. Burkett Financial Services LLC bought a new position in Intel during the fourth quarter worth about $27,000. Finally, Tributary Capital Management LLC bought a new position in Intel during the first quarter worth about $27,000. 64.53% of the stock is owned by institutional investors.

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.