Intel (NASDAQ:INTC) Trading Down 1%

Intel Co. (NASDAQ:INTC) shares dropped 1% on Tuesday . The stock traded as low as $30.86 and last traded at $31.05. Approximately 19,307,386 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 47,915,660 shares. The stock had previously closed at $31.36.

Wall Street Analysts Forecast Growth

INTC has been the topic of several research analyst reports. Citigroup reduced their price target on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Susquehanna decreased their price target on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday. Sanford C. Bernstein dropped their price objective on shares of Intel from $42.00 to $35.00 and set a “market perform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Intel presently has an average rating of “Hold” and a consensus target price of $39.75.

Intel Stock Down 2.1 %

The business’s 50 day simple moving average is $40.63 and its 200 day simple moving average is $42.27. The company has a market capitalization of $129.76 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders 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 yield of 1.63%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is 52.08%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of large investors have recently bought and sold shares of INTC. Norges Bank acquired a new stake in shares of Intel in the fourth quarter valued at $2,424,202,000. Price T Rowe Associates Inc. MD grew its holdings in Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after acquiring an additional 31,575,084 shares during the last quarter. California Public Employees Retirement System increased its position in Intel by 102.6% in the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after acquiring an additional 8,140,835 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Intel by 18.6% in the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after acquiring an additional 6,064,950 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after acquiring an additional 5,217,549 shares during the last quarter. 64.53% of the stock is currently owned by 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.