Intel (NASDAQ:INTC) Rating Reiterated by Wedbush

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

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a hold rating on shares of Intel in a research note on Friday, January 26th. Barclays boosted their target price on shares of Intel from $32.00 to $44.00 and gave the stock an equal weight rating in a research note on Tuesday, January 16th. Mizuho lowered their target price on shares of Intel from $58.00 to $55.00 and set a buy rating for the company in a research note on Friday, January 26th. Benchmark reiterated a buy rating and set a $62.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Finally, Bank of America lowered their target price on shares of Intel from $50.00 to $44.00 and set a neutral rating for the company in a research note on Friday, April 12th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $42.62.

Get Our Latest Analysis on Intel

Intel Stock Down 2.4 %

Intel stock opened at $34.20 on Wednesday. Intel has a twelve month low of $26.85 and a twelve month high of $51.28. The stock’s fifty day simple moving average is $41.85 and its 200-day simple moving average is $42.34. 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 firm has a market capitalization of $144.60 billion, a P/E ratio of 87.69, a P/E/G ratio of 3.07 and a beta of 1.00.

Intel (NASDAQ:INTCGet Free Report) 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. As a group, equities analysts expect that Intel will post 0.61 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently declared 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. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a yield of 1.46%. Intel’s dividend payout ratio is currently 128.21%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INTC. New Millennium Group LLC grew 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 purchasing an additional 231 shares during the last quarter. Cornerstone Planning Group LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC acquired a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. Burkett Financial Services LLC acquired a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. Finally, Tributary Capital Management LLC acquired a new stake in shares of Intel in the first quarter valued at approximately $27,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading

Analyst Recommendations for Intel (NASDAQ:INTC)

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