Intel (NASDAQ:INTC) Given New $33.00 Price Target at Truist Financial

Intel (NASDAQ:INTC) had its price objective lowered by Truist Financial from $45.00 to $33.00 in a report published on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the chip maker’s stock.

Other analysts have also issued reports about the stock. Needham & Company LLC restated a hold rating on shares of Intel in a research report on Friday. Evercore ISI reduced their price target on Intel from $40.00 to $36.00 and set an in-line rating on the stock in a research report on Friday. Wedbush lowered their price objective on Intel from $40.00 to $32.50 and set a neutral rating for the company in a research report on Friday. JPMorgan Chase & Co. decreased their target price on shares of Intel from $37.00 to $35.00 and set an underweight rating on the stock in a research note on Friday. Finally, Stifel Nicolaus reissued a hold rating and set a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Four equities research 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 company. According to data from MarketBeat, Intel has an average rating of Hold and a consensus target price of $39.75.

Intel Trading Down 1.6 %

Shares of INTC opened at $31.36 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The firm has a 50 day moving average price of $40.63 and a 200-day moving average price of $42.27. The firm has a market cap of $132.59 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 2.89 and a beta of 1.00.

Intel Dividend Announcement

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. This represents a $0.50 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The stock was purchased 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 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 available at this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Institutional investors and hedge funds have recently bought and sold shares of the company. Slow Capital Inc. increased its position in shares of Intel by 0.9% during the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after acquiring an additional 508 shares in the last quarter. Altus Wealth Group LLC boosted its stake in Intel by 29.4% during the 4th quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after purchasing an additional 5,759 shares during the last quarter. Alera Investment Advisors LLC bought a new stake in shares of Intel in the 4th quarter worth $201,000. Callan Capital LLC raised its stake in shares of Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock worth $884,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors lifted its holdings in shares of Intel by 1.3% during the third quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock valued at $1,613,000 after purchasing an additional 574 shares in the last quarter. 64.53% of the stock is currently 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.