Intel (NASDAQ:INTC) Given New $36.00 Price Target at Evercore ISI

Intel (NASDAQ:INTC) had its target price cut by Evercore ISI from $40.00 to $36.00 in a research note published on Friday morning, Benzinga reports. They currently have an in-line rating on the chip maker’s stock.

A number of other analysts also recently weighed in on the stock. Bank of America cut their price target on shares of Intel from $50.00 to $44.00 and set a neutral rating for the company in a report on Friday, April 12th. Sanford C. Bernstein cut their price target on shares of Intel from $42.00 to $35.00 and set a market perform rating for the company in a report on Friday. Raymond James cut their price target on shares of Intel from $54.00 to $52.00 and set an outperform rating for the company in a report on Friday, January 26th. TD Cowen cut their price target on shares of Intel from $42.00 to $35.00 and set a hold rating for the company in a report on Friday. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Four 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 company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $39.75.

Intel Stock Performance

NASDAQ INTC opened at $31.88 on Friday. 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 company has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a P/E/G ratio of 3.19 and a beta of 1.00. Intel has a 12-month low of $26.85 and a 12-month high of $51.28. The firm has a 50-day moving average price of $40.88 and a two-hundred day moving average price of $42.23.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. Analysts anticipate that Intel will post 0.6 earnings per share for the current year.

Intel Dividend Announcement

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

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 purchased at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 purchase, the chief executive officer now directly 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Intel

Hedge funds have recently bought and sold shares of the company. Artemis Wealth Advisors LLC bought a new stake in Intel during the first quarter valued at approximately $3,799,000. Vigilare Wealth Management increased its stake in shares of Intel by 4.8% in the first quarter. Vigilare Wealth Management now owns 11,000 shares of the chip maker’s stock worth $486,000 after buying an additional 500 shares during the period. Finer Wealth Management Inc. increased its stake in shares of Intel by 5.6% in the first quarter. Finer Wealth Management Inc. now owns 74,210 shares of the chip maker’s stock worth $3,278,000 after buying an additional 3,944 shares during the period. BayBridge Capital Group LLC increased its stake in shares of Intel by 505.9% in the first quarter. BayBridge Capital Group LLC now owns 31,505 shares of the chip maker’s stock worth $1,392,000 after buying an additional 26,305 shares during the period. Finally, Harrington Investments INC increased its stake in shares of Intel by 3.8% in the first quarter. Harrington Investments INC now owns 87,316 shares of the chip maker’s stock worth $3,857,000 after buying an additional 3,194 shares during the period. Hedge funds and other institutional investors 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.