Intel (NASDAQ:INTC) Price Target Lowered to $35.00 at Susquehanna

Intel (NASDAQ:INTC) had its price target cut by Susquehanna from $40.00 to $35.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the chip maker’s stock.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group dropped their price target on shares of Intel from $39.00 to $34.00 and set a sell rating on the stock in a research note on Friday. Raymond James decreased their price objective on shares of Intel from $54.00 to $52.00 and set an outperform rating for the company in a report on Friday, January 26th. UBS Group upped their price objective on shares of Intel from $46.00 to $50.00 and gave the stock a neutral rating in a report on Monday, April 1st. Sanford C. Bernstein decreased their price objective on shares of Intel from $42.00 to $35.00 and set a market perform rating for the company in a report on Friday. Finally, Wedbush reiterated a neutral rating and issued a $40.00 price objective on shares of Intel in a report on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $39.75.

Intel Price Performance

Shares of NASDAQ:INTC opened at $31.88 on Friday. The company’s fifty day moving average is $40.88 and its two-hundred day moving average is $42.23. 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 12-month low of $26.85 and a 12-month high of $51.28. The company has a market cap of $134.79 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.22%. The company had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same period in the previous year, the business earned $0.10 EPS. The company’s revenue was up 9.7% on a year-over-year basis. Equities analysts expect that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average price 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction dated 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 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. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Intel in the fourth quarter valued at approximately $2,424,202,000. Price T Rowe Associates Inc. MD boosted its stake in Intel by 543.5% in the fourth 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 during the last quarter. California Public Employees Retirement System boosted its stake in Intel by 102.6% in the fourth 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 during the last quarter. Bank of New York Mellon Corp boosted its stake in Intel by 18.6% in the third 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 during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Intel by 17.8% during the third 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 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.