Intel (NASDAQ:INTC) Price Target Cut to $40.00

Intel (NASDAQ:INTC) had its price objective lowered by Barclays from $44.00 to $40.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the chip maker’s stock.

A number of other equities research analysts have also recently weighed in on INTC. Rosenblatt Securities restated a sell rating and set a $17.00 price objective on shares of Intel in a research note on Friday. Needham & Company LLC restated a hold rating on shares of Intel in a research note on Friday. Sanford C. Bernstein decreased their price objective on Intel from $42.00 to $35.00 and set a market perform rating for the company in a research note on Friday. Benchmark reiterated a buy rating and issued a $62.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Finally, Morgan Stanley decreased their price target on Intel from $48.00 to $36.00 and set an equal weight rating for the company in a research note on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Intel currently has an average rating of Hold and a consensus target price of $39.75.

Intel Price Performance

INTC opened at $31.88 on Friday. 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 business’s fifty day simple moving average is $40.88 and its 200-day simple moving average is $42.23. The company has a market capitalization 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 (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. On average, equities research analysts anticipate that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Dividend Announcement

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

Insider Buying and Selling

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

Institutional Trading of Intel

Institutional investors have recently bought and sold shares of the business. CX Institutional boosted its stake in shares of Intel by 13.4% in the third quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock worth $746,000 after acquiring an additional 2,474 shares during the last quarter. Simplicity Solutions LLC boosted its stake in shares of Intel by 45.5% in the third quarter. Simplicity Solutions LLC now owns 111,005 shares of the chip maker’s stock worth $3,946,000 after acquiring an additional 34,739 shares during the last quarter. Connecticut Wealth Management LLC boosted its stake in shares of Intel by 7.3% in the third quarter. Connecticut Wealth Management LLC now owns 12,751 shares of the chip maker’s stock worth $453,000 after acquiring an additional 872 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Intel by 5.6% in the third quarter. Ballentine Partners LLC now owns 53,308 shares of the chip maker’s stock worth $1,895,000 after acquiring an additional 2,806 shares during the last quarter. Finally, TFG Advisers LLC boosted its stake in shares of Intel by 2.8% in the third quarter. TFG Advisers LLC now owns 14,521 shares of the chip maker’s stock worth $516,000 after acquiring an additional 391 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

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.