Intel (NASDAQ:INTC) Price Target Cut to $37.00 by Analysts at HSBC

Intel (NASDAQ:INTC) had its price objective cut by HSBC from $44.00 to $37.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a hold rating on the chip maker’s stock.

Other equities research analysts have also issued reports about the stock. Wedbush reiterated a neutral rating and set a $40.00 target price on shares of Intel in a research note on Wednesday, April 17th. Stifel Nicolaus reissued a hold rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Needham & Company LLC reissued a hold rating on shares of Intel in a research report on Friday, January 26th. Mizuho cut their price objective on shares of Intel from $58.00 to $55.00 and set a buy rating for the company in a research report on Friday, January 26th. Finally, Bank of America cut their price objective 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. Four investment analysts have rated the stock with a sell rating, twenty-one 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 price target of $39.75.

Intel Price Performance

Shares of INTC opened at $31.88 on Tuesday. The firm has a market cap of $134.79 billion, a PE ratio of 81.75, a P/E/G ratio of 3.13 and a beta of 1.00. 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 fifty day simple moving average of $40.88 and a two-hundred day simple moving average of $42.23. Intel has a 1-year low of $26.85 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last announced its earnings results 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. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. On average, equities analysts anticipate that Intel will post 0.6 EPS for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders 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 dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is 128.21%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the transaction, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of Intel stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INTC. Norges Bank purchased a new stake in Intel in the 4th quarter worth about $2,424,202,000. Price T Rowe Associates Inc. MD raised its position in Intel by 543.5% in 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 purchasing an additional 31,575,084 shares during the period. California Public Employees Retirement System raised 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 worth $807,757,000 after purchasing an additional 8,140,835 shares during the period. Bank of New York Mellon Corp raised its position in Intel by 18.6% in the 3rd 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 purchasing an additional 6,064,950 shares during the period. Finally, Wellington Management Group LLP raised its position in Intel by 17.8% in the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares during the period. 64.53% of the stock is owned by hedge funds and other 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.