Citigroup Cuts Intel (NASDAQ:INTC) Price Target to $40.00

Intel (NASDAQ:INTC) had its price target trimmed by Citigroup from $47.50 to $40.00 in a research note published on Monday, Marketbeat Ratings reports. The firm currently has a neutral rating on the chip maker’s stock.

INTC has been the topic of several other reports. Cantor Fitzgerald restated a neutral rating and set a $50.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Rosenblatt Securities restated a sell rating and set a $17.00 target price on shares of Intel in a research report on Friday, February 23rd. Morgan Stanley increased their target price on shares of Intel from $39.00 to $48.00 and gave the company an equal weight rating in a report on Monday, January 29th. HSBC decreased their price target on Intel from $46.00 to $44.00 and set a hold rating on the stock in a research note on Friday, January 26th. Finally, Wells Fargo & Company dropped their price objective on Intel from $48.00 to $43.00 and set an equal weight rating for the company in a research note on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $42.62.

Intel Trading Down 1.6 %

Shares of Intel stock opened at $35.68 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The firm has a market cap of $150.86 billion, a price-to-earnings ratio of 91.49, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00. Intel has a 52-week low of $26.85 and a 52-week high of $51.28. The company’s 50-day simple moving average is $42.18 and its 200-day simple moving average is $42.35.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that Intel will post 0.62 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s dividend payout ratio is currently 128.21%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently modified their holdings of the company. New Millennium Group LLC lifted its position in Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares in the last quarter. Cornerstone Planning Group LLC acquired a new position in shares of Intel during the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC purchased a new stake in Intel during the 4th quarter worth $27,000. Burkett Financial Services LLC acquired a new stake in Intel in the 4th quarter valued at $27,000. Finally, Hanseatic Management Services Inc. acquired a new stake in Intel in the 4th quarter valued at $27,000. 64.53% of the stock is owned by institutional investors and hedge funds.

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.