Intel (NASDAQ:INTC) Price Target Cut to $35.00 by Analysts at Sanford C. Bernstein

Intel (NASDAQ:INTC) had its target price decreased by Sanford C. Bernstein from $42.00 to $35.00 in a report published on Friday, Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the chip maker’s stock.

Other equities analysts have also issued reports about the company. Rosenblatt Securities reissued a sell rating and set a $17.00 price target on shares of Intel in a research report on Friday. Needham & Company LLC reissued a hold rating on shares of Intel in a research report on Friday. UBS Group boosted their price target on Intel from $46.00 to $50.00 and gave the stock a neutral rating in a research report on Monday, April 1st. Raymond James reduced their price target on Intel from $54.00 to $52.00 and set an outperform rating on the stock in a research report on Friday, January 26th. Finally, Truist Financial reissued a hold rating and set a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of Hold and an average target price of $39.75.

Intel Stock Down 9.2 %

Shares of NASDAQ:INTC opened at $31.88 on Friday. The firm has a market cap of $134.79 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00. Intel has a 12-month low of $26.85 and a 12-month high of $51.28. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average price is $40.88 and its two-hundred day moving average price is $42.23.

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

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. Intel’s dividend payout ratio is currently 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction on 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 transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Artemis Wealth Advisors LLC acquired a new position in Intel during the 1st quarter worth $3,799,000. Vigilare Wealth Management boosted its position in Intel by 4.8% during the 1st quarter. Vigilare Wealth Management now owns 11,000 shares of the chip maker’s stock worth $486,000 after acquiring an additional 500 shares during the period. Finer Wealth Management Inc. boosted its position in Intel by 5.6% during the 1st quarter. Finer Wealth Management Inc. now owns 74,210 shares of the chip maker’s stock worth $3,278,000 after acquiring an additional 3,944 shares during the period. BayBridge Capital Group LLC boosted its position in Intel by 505.9% during the 1st quarter. BayBridge Capital Group LLC now owns 31,505 shares of the chip maker’s stock worth $1,392,000 after acquiring an additional 26,305 shares during the period. Finally, Harrington Investments INC boosted its position in Intel by 3.8% during the 1st quarter. Harrington Investments INC now owns 87,316 shares of the chip maker’s stock worth $3,857,000 after acquiring an additional 3,194 shares during the period. Institutional investors and hedge funds 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.