Intel (NASDAQ:INTC) Shares Down 2.5%

Intel Co. (NASDAQ:INTC) was down 2.5% during mid-day trading on Wednesday . The company traded as low as $29.81 and last traded at $29.90. Approximately 15,074,300 shares were traded during trading, a decline of 69% from the average daily volume of 48,012,945 shares. The stock had previously closed at $30.68.

Analysts Set New Price Targets

A number of research analysts have weighed in on INTC shares. Susquehanna cut their price objective on shares of Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Roth Mkm reduced their price target on Intel from $45.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Barclays dropped their price objective on Intel from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Evercore ISI reduced their target price on Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. Finally, Mizuho dropped their price target on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.75.

Intel Stock Performance

The stock’s fifty day simple moving average is $39.12 and its 200-day simple moving average is $42.05. The company has a market capitalization of $127.71 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 10.05 and a beta of 1.09. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.67%. Intel’s payout ratio is 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 4,100 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the purchase, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 4,100 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intel

Several hedge funds and other institutional investors have recently made changes to their positions in INTC. Slow Capital Inc. boosted its holdings in shares of Intel by 0.9% in the 4th quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after buying an additional 508 shares in the last quarter. Altus Wealth Group LLC increased its position in shares of Intel by 29.4% during the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock worth $1,272,000 after purchasing an additional 5,759 shares in the last quarter. Alera Investment Advisors LLC purchased a new stake in shares of Intel in the 4th quarter valued at about $201,000. Callan Capital LLC lifted its holdings in shares of Intel by 9.1% in the 4th quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors boosted its position in shares of Intel by 1.3% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock valued at $1,613,000 after purchasing an additional 574 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.