Intel (NASDAQ:INTC) Given New $35.00 Price Target at Sanford C. Bernstein

Intel (NASDAQ:INTC) had its price target trimmed by Sanford C. Bernstein from $42.00 to $35.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a market perform rating on the chip maker’s stock.

Other equities analysts also recently issued research reports about the company. Barclays upped their target price on Intel from $32.00 to $44.00 and gave the company an equal weight rating in a research report on Tuesday, January 16th. Stifel Nicolaus reissued a hold rating and set a $45.00 price target 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. Wedbush reissued a neutral rating and set a $40.00 price target on shares of Intel in a research report on Wednesday, April 17th. Finally, Rosenblatt Securities reissued a sell rating and set a $17.00 price target on shares of Intel in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $39.75.

Intel Price Performance

Intel stock opened at $31.88 on Friday. Intel has a 12 month low of $26.85 and a 12 month high of $51.28. The stock’s 50 day moving average is $40.88 and its 200-day moving average is $42.23. 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 company has a market capitalization of $134.79 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 2.22% and a net margin of 7.36%. The company had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same quarter in the prior year, the business earned $0.10 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts expect 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. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. Intel’s payout ratio is 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were purchased 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 filing with the SEC, which is accessible through this link. In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was bought 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 owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Slow Capital Inc. grew its position in Intel by 0.9% in the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock worth $2,749,000 after acquiring an additional 508 shares in the last quarter. Altus Wealth Group LLC boosted its position in Intel by 29.4% during the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock valued at $1,272,000 after buying an additional 5,759 shares during the period. Alera Investment Advisors LLC purchased a new stake in Intel during the fourth quarter valued at about $201,000. Vanguard Capital Wealth Advisors boosted its position in Intel by 1.3% during the third quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock valued at $1,613,000 after buying an additional 574 shares during the period. Finally, Prosperity Wealth Management Inc. purchased a new stake in Intel during the fourth quarter valued at about $293,000. 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.