Intel (NASDAQ:INTC) Price Target Cut to $40.00

Intel (NASDAQ:INTCFree Report) had its price objective decreased by Susquehanna from $42.00 to $40.00 in a report issued on Wednesday morning, Benzinga reports. Susquehanna currently has a neutral rating on the chip maker’s stock.

INTC has been the topic of several other reports. Rosenblatt Securities restated a sell rating and set a $17.00 price objective on shares of Intel in a research note on Friday, February 23rd. Wedbush restated a neutral rating and set a $40.00 price objective on shares of Intel in a research note on Wednesday. Evercore ISI began coverage on Intel in a research note on Tuesday. They set an in-line rating and a $40.00 price objective on the stock. Truist Financial restated a hold rating and set a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Finally, Needham & Company LLC restated a hold rating on shares of Intel in a research note on Friday, January 26th. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have given 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.

Get Our Latest Stock Analysis on Intel

Intel Stock Down 1.6 %

INTC stock opened at $35.68 on Wednesday. Intel has a twelve month low of $26.85 and a twelve month high of $51.28. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $150.86 billion, a P/E ratio of 91.49, a PEG ratio of 3.21 and a beta of 1.00. The firm has a 50 day simple moving average of $42.18 and a 200-day simple moving average of $42.35.

Intel (NASDAQ:INTCGet Free Report) last released its quarterly 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. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. During the same quarter last year, the company earned $0.10 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Intel will post 0.62 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Tuesday, February 6th. Intel’s payout ratio is currently 128.21%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction that occurred 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 acquisition, 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 can be accessed through this hyperlink. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intel

Institutional investors have recently bought and sold shares of the stock. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in shares of Intel by 173.6% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock valued at $26,761,000 after buying an additional 342,649 shares during the last quarter. Axiom Financial Strategies LLC lifted its holdings in shares of Intel by 21.6% during the 1st quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock valued at $260,000 after buying an additional 1,056 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in shares of Intel during the 1st quarter valued at about $142,000. Retirement Income Solutions Inc lifted its holdings in shares of Intel by 5.1% during the 1st quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after buying an additional 307 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Intel by 26.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock valued at $290,593,000 after buying an additional 1,244,247 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Intel (NASDAQ:INTC)

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