Intel (NASDAQ:INTC) Earns “Neutral” Rating from Wedbush

Wedbush restated their neutral rating on shares of Intel (NASDAQ:INTC) in a research report report published on Wednesday, Benzinga reports. Wedbush currently has a $40.00 price objective on the chip maker’s stock.

Other equities research analysts also recently issued reports about the company. UBS Group lifted their price objective on Intel from $46.00 to $50.00 and gave the company a neutral rating in a report on Monday, April 1st. Rosenblatt Securities reaffirmed a sell rating and set a $17.00 price objective on shares of Intel in a report on Friday, February 23rd. Benchmark reaffirmed a buy rating and set a $62.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Raymond James decreased their price objective on Intel from $54.00 to $52.00 and set an outperform rating on the stock in a report on Friday, January 26th. Finally, Evercore ISI assumed coverage on Intel in a report on Tuesday. They set an in-line rating and a $40.00 price objective on the stock. Four 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. According to MarketBeat, Intel presently has an average rating of Hold and a consensus target price of $42.62.

Intel Stock Down 2.4 %

INTC stock opened at $34.20 on Wednesday. Intel has a twelve month low of $26.85 and a twelve month high of $51.28. The company has a market cap of $144.60 billion, a PE ratio of 87.69, a price-to-earnings-growth ratio of 3.15 and a beta of 1.00. The business’s 50-day simple moving average is $41.85 and its 200 day simple moving average is $42.29. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. On average, research analysts anticipate that Intel will post 0.61 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Tuesday, February 6th. Intel’s payout ratio is 128.21%.

Insider Buying and Selling at Intel

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

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently made changes to their positions in INTC. Vanguard Group Inc. boosted its stake in Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after purchasing an additional 4,678,169 shares during the period. State Street Corp lifted its position in Intel by 0.8% during the 1st quarter. State Street Corp now owns 179,319,417 shares of the chip maker’s stock worth $5,858,347,000 after buying an additional 1,447,881 shares in the last quarter. Capital International Investors lifted its position in Intel by 0.3% during the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock worth $4,855,099,000 after buying an additional 318,495 shares in the last quarter. Primecap Management Co. CA lifted its position in Intel by 0.6% during the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after buying an additional 475,636 shares in the last quarter. Finally, Morgan Stanley lifted its position in Intel by 29.8% during the 4th quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock worth $1,409,835,000 after buying an additional 12,241,200 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.