Intel (NASDAQ:INTC) Price Target Cut to $44.00 by Analysts at Bank of America

Intel (NASDAQ:INTC) had its target price reduced by Bank of America from $50.00 to $44.00 in a report released on Friday, Benzinga reports. Bank of America currently has a neutral rating on the chip maker’s stock.

Several other equities analysts have also recently issued reports on INTC. HSBC lowered their price objective on shares of Intel from $46.00 to $44.00 and set a hold rating on the stock in a research note on Friday, January 26th. The Goldman Sachs Group lifted their target price on shares of Intel from $34.00 to $39.00 and gave the company a sell rating in a research note on Friday, January 26th. Stifel Nicolaus reiterated a hold rating and issued a $45.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Wells Fargo & Company dropped their price target on shares of Intel from $48.00 to $43.00 and set an equal weight rating on the stock in a research report on Tuesday, April 9th. Finally, Needham & Company LLC reissued a hold rating on shares of Intel in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $42.69.

Intel Trading Up 1.7 %

Shares of NASDAQ:INTC opened at $36.31 on Friday. The company has a market cap of $153.52 billion, a PE ratio of 93.10, a P/E/G ratio of 3.16 and a beta of 1.00. The company’s 50-day moving average price is $42.45 and its 200 day moving average price is $42.39. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. 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 released 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. The firm had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. Intel’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. Sell-side analysts anticipate that Intel will post 0.62 earnings per share for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were paid a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.38%. Intel’s dividend payout ratio is presently 128.21%.

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Barrett & Company Inc. grew its holdings in shares of Intel by 6.1% during the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after purchasing an additional 210 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Intel by 3.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after acquiring an additional 216 shares during the last quarter. New Millennium Group LLC boosted its holdings in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares during the last quarter. Waldron Private Wealth LLC boosted its holdings in Intel by 0.6% in the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares during the last quarter. Finally, Virtue Capital Management LLC boosted its holdings in Intel by 3.3% in the fourth quarter. Virtue Capital Management LLC now owns 7,580 shares of the chip maker’s stock valued at $355,000 after acquiring an additional 245 shares during the last quarter. 64.53% of the stock is currently 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.