Intel (NASDAQ:INTC) Given New $35.00 Price Target at Roth Mkm

Intel (NASDAQ:INTC) had its price objective trimmed by Roth Mkm from $45.00 to $35.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the chip maker’s stock.

Several other research analysts have also recently weighed in on INTC. HSBC reduced their price objective on Intel from $44.00 to $37.00 and set a hold rating for the company in a research note on Tuesday, April 23rd. Morgan Stanley reduced their price target on shares of Intel from $48.00 to $36.00 and set an equal weight rating for the company in a research report on Friday. Bank of America lowered their price target on shares of Intel from $50.00 to $44.00 and set a neutral rating on the stock in a report on Friday, April 12th. Wells Fargo & Company decreased their target price on Intel from $48.00 to $43.00 and set an equal weight rating for the company in a research report on Tuesday, April 9th. Finally, Sanford C. Bernstein dropped their price target on Intel from $42.00 to $35.00 and set a market perform rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Intel has an average rating of Hold and a consensus target price of $39.75.

Intel Price Performance

Intel stock opened at $31.36 on Friday. The stock has a market cap of $132.59 billion, a P/E ratio of 32.67, a P/E/G ratio of 2.89 and a beta of 1.00. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average price is $40.63 and its two-hundred day moving average price is $42.27. Intel has a 52 week low of $26.85 and a 52 week high of $51.28.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INTC. New Millennium Group LLC boosted its holdings in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in Intel in the 4th quarter worth approximately $27,000. Burkett Financial Services LLC purchased a new stake in Intel in the fourth quarter worth approximately $27,000. Tributary Capital Management LLC bought a new position in Intel during the first quarter valued at approximately $27,000. Finally, Legacy Financial Group LLC purchased a new position in shares of Intel during the third quarter worth approximately $30,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

About Intel

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.