Intel (NASDAQ:INTC) Price Target Lowered to $32.50 at Wedbush

Intel (NASDAQ:INTC) had its price objective trimmed by Wedbush from $40.00 to $32.50 in a research report report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the chip maker’s stock.

A number of other brokerages have also recently commented on INTC. Evercore ISI decreased their target price on shares of Intel from $40.00 to $36.00 and set an in-line rating on the stock in a research report on Friday. Barclays decreased their price objective on Intel from $44.00 to $40.00 and set an equal weight rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced their price target on Intel from $37.00 to $35.00 and set an underweight rating on the stock in a research report on Friday. Sanford C. Bernstein dropped their price objective on Intel from $42.00 to $35.00 and set a market perform rating for the company in a research note on Friday. Finally, UBS Group lifted their target price on shares of Intel from $46.00 to $50.00 and gave the stock a neutral rating in a research note on Monday, April 1st. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $39.75.

Intel Stock Down 9.2 %

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 business’s fifty day simple moving average is $40.88 and its 200 day simple moving average is $42.23. Intel has a 52 week low of $26.85 and a 52 week high of $51.28. The stock has a market cap of $134.79 billion, a PE ratio of 33.21, a P/E/G ratio of 3.19 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued 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. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. Intel’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, research analysts expect that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in INTC. New Millennium Group LLC raised its position in shares of 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 buying an additional 231 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in Intel in the 4th quarter valued at about $27,000. Burkett Financial Services LLC purchased a new position in Intel in the 4th quarter worth approximately $27,000. Tributary Capital Management LLC acquired a new position in shares of Intel during the 1st quarter worth approximately $27,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Intel in the third quarter valued at approximately $30,000. 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.