Intel (NASDAQ:INTC) Price Target Lowered to $37.00 at HSBC

Intel (NASDAQ:INTC) had its price target trimmed by HSBC from $44.00 to $37.00 in a report published on Tuesday, Benzinga reports. The firm currently has a hold rating on the chip maker’s stock.

Other analysts have also issued research reports about the company. Barclays upped their price objective on Intel from $32.00 to $44.00 and gave the stock an equal weight rating in a research report on Tuesday, January 16th. Morgan Stanley upped their price objective on Intel from $39.00 to $48.00 and gave the stock an equal weight rating in a research report on Monday, January 29th. Stifel Nicolaus reissued a hold rating and issued a $45.00 target price on shares of Intel in a report on Wednesday, April 3rd. Susquehanna dropped their target price on Intel from $42.00 to $40.00 and set a neutral rating on the stock in a report on Wednesday, April 17th. Finally, Benchmark reissued a buy rating and issued a $62.00 target price on shares of Intel in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $42.38.

Intel Stock Down 0.4 %

NASDAQ:INTC opened at $34.28 on Tuesday. 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 stock’s fifty day moving average is $41.48 and its two-hundred day moving average is $42.36. Intel has a 52 week low of $26.85 and a 52 week high of $51.28. The stock has a market capitalization of $144.94 billion, a price-to-earnings ratio of 87.90, a price-to-earnings-growth ratio of 3.07 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 return on equity of 1.64% and a net margin of 3.11%. The business had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. Research analysts anticipate that Intel will post 0.61 EPS for the current year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were paid a $0.125 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a yield of 1.46%. Intel’s payout ratio is currently 128.21%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the 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 purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following 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 owned by corporate insiders.

Hedge Funds Weigh In On Intel

Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Intel during the 4th quarter valued at $2,424,202,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 valued at $1,878,572,000 after acquiring an additional 31,575,084 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Intel by 102.6% during 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 lifted its holdings in shares of Intel by 18.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after acquiring an additional 6,064,950 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after acquiring an additional 5,217,549 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.