Wedbush Reaffirms “Neutral” Rating for Intel (NASDAQ:INTC)

Wedbush reissued their neutral rating on shares of Intel (NASDAQ:INTC) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $40.00 price objective on the chip maker’s stock.

Other research analysts have also recently issued research reports about the stock. Susquehanna restated a neutral rating and issued a $42.00 target price on shares of Intel in a research report on Thursday, April 4th. Barclays upped their target price on shares of Intel from $32.00 to $44.00 and gave the stock an equal weight rating in a research report on Tuesday, January 16th. TD Cowen decreased their target price on shares of Intel from $45.00 to $42.00 and set a market perform rating for the company in a research report on Friday, January 26th. Bank of America decreased their target price on shares of Intel from $50.00 to $44.00 and set a neutral rating for the company in a research report on Friday, April 12th. Finally, Rosenblatt Securities reaffirmed a sell rating and issued a $17.00 price target on shares of Intel in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $42.62.

Intel Price Performance

Shares of NASDAQ:INTC opened at $35.68 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The firm has a 50-day simple moving average of $42.18 and a 200 day simple moving average of $42.35. The company has a market cap of $150.86 billion, a PE ratio of 91.49, a P/E/G ratio of 3.21 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating 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 in the prior year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Intel will post 0.62 EPS for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.40%. Intel’s dividend payout ratio (DPR) is 128.21%.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were bought at an average price 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction on Monday, January 29th. The stock was bought 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 owns 28,475 shares in the company, 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.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barrett & Company Inc. lifted its holdings in shares of Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after acquiring an additional 210 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Intel by 3.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after acquiring an additional 216 shares during the period. New Millennium Group LLC lifted its holdings in shares of Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares during the period. Waldron Private Wealth LLC lifted its holdings in shares of Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock worth $2,063,000 after acquiring an additional 232 shares during the period. Finally, Virtue Capital Management LLC lifted its holdings in shares of Intel by 3.3% during the 4th quarter. Virtue Capital Management LLC now owns 7,580 shares of the chip maker’s stock worth $355,000 after acquiring an additional 245 shares during the period. 64.53% of the stock is owned by institutional investors.

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.