Intel (NASDAQ:INTC) Price Target Cut to $34.00 by Analysts at The Goldman Sachs Group

Intel (NASDAQ:INTC) had its target price lowered by The Goldman Sachs Group from $39.00 to $34.00 in a report issued on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the chip maker’s stock.

INTC has been the subject of a number of other research reports. Wedbush restated a neutral rating and set a $40.00 target price on shares of Intel in a research note on Wednesday, April 17th. Wells Fargo & Company cut their target price on shares of Intel from $48.00 to $43.00 and set an equal weight rating for the company in a research note on Tuesday, April 9th. Bank of America dropped their price objective on shares of Intel from $50.00 to $44.00 and set a neutral rating for the company in a research note on Friday, April 12th. Cantor Fitzgerald reissued a neutral rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Finally, Citigroup decreased their target price on shares of Intel from $47.50 to $40.00 and set a neutral rating on the stock in a report on Monday, April 15th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intel has a consensus rating of Hold and a consensus target price of $39.75.

Intel Stock Performance

Shares of INTC stock opened at $31.88 on Friday. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The company has a fifty day moving average price of $40.88 and a two-hundred day moving average price of $42.23. Intel has a one year low of $26.85 and a one year high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 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 analysts’ expectations of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 earnings per share. As a group, equities analysts predict that Intel will post 0.6 EPS for the current year.

Intel Dividend Announcement

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

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction 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 completion of the acquisition, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the stock in a transaction dated Monday, January 29th. The stock was purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the acquisition, 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 owned by company insiders.

Institutional Investors Weigh In On Intel

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Intel by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock worth $19,385,842,000 after buying an additional 4,678,169 shares in the last quarter. Capital International Investors raised its stake in Intel by 0.3% in the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after purchasing an additional 318,495 shares in the last quarter. Primecap Management Co. CA raised its stake in Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after purchasing an additional 475,636 shares in the last quarter. Norges Bank purchased a new stake in Intel in the fourth quarter valued at approximately $2,424,202,000. Finally, Northern Trust Corp raised its stake in Intel by 3.7% in the third quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after purchasing an additional 1,626,127 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other 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.