Intel (NASDAQ:INTC) Given New $38.00 Price Target at Wells Fargo & Company

Intel (NASDAQ:INTC) had its target price lowered by Wells Fargo & Company from $43.00 to $38.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the chip maker’s stock.

INTC has been the subject of a number of other reports. Mizuho dropped their target price on shares of Intel from $55.00 to $45.00 and set a buy rating for the company in a report on Friday. HSBC dropped their target price on shares of Intel from $44.00 to $37.00 and set a hold rating for the company in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Intel from $37.00 to $35.00 and set an underweight rating for the company in a report on Friday. Roth Mkm dropped their target price on shares of Intel from $45.00 to $35.00 and set a neutral rating for the company in a report on Friday. Finally, Rosenblatt Securities reissued a sell rating and set a $17.00 price objective on shares of Intel in a research note on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Intel has an average rating of Hold and an average target price of $39.75.

Intel Trading Down 9.2 %

NASDAQ INTC opened at $31.88 on Friday. The stock has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a P/E/G ratio of 3.19 and a beta of 1.00. Intel has a 52-week low of $26.85 and a 52-week high of $51.28. The firm has a 50-day moving average price of $40.88 and a 200 day moving average price of $42.23. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.22%. The company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same period last year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that Intel will post 0.6 EPS for the current year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.57%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $43.36 per share, with a total value of $130,080.00. Following the purchase, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently made changes to their positions in INTC. Vanguard Group Inc. increased its stake in Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after buying an additional 4,678,169 shares during the period. Capital International Investors increased its position in shares of Intel by 0.3% in the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock worth $4,855,099,000 after purchasing an additional 318,495 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Intel by 0.6% in the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after purchasing an additional 475,636 shares during the last quarter. Norges Bank bought a new stake in shares of Intel in the 4th quarter worth about $2,424,202,000. Finally, Northern Trust Corp increased its position in shares of Intel by 3.7% in the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock worth $1,635,434,000 after purchasing an additional 1,626,127 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Company Profile

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.