Intel (NASDAQ:INTC) Price Target Cut to $35.00

Intel (NASDAQ:INTC) had its price objective lowered by JPMorgan Chase & Co. from $37.00 to $35.00 in a research report report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the chip maker’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley increased their target price on Intel from $39.00 to $48.00 and gave the company an equal weight rating in a research note on Monday, January 29th. Barclays raised their price target on Intel from $32.00 to $44.00 and gave the stock an equal weight rating in a research note on Tuesday, January 16th. Citigroup dropped their price target on Intel from $47.50 to $40.00 and set a neutral rating on the stock in a research note on Monday, April 15th. Susquehanna dropped their price target on Intel from $42.00 to $40.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Finally, Raymond James dropped their price target on Intel from $54.00 to $52.00 and set an outperform rating on the stock in a research note on Friday, January 26th. Four 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 company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $39.75.

Intel Stock Performance

Shares of INTC opened at $31.36 on Friday. The business’s fifty day simple moving average is $40.63 and its two-hundred day simple moving average is $42.27. 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 has a 12 month low of $26.85 and a 12 month high of $51.28. The company has a market cap of $132.59 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 2.89 and a beta of 1.00.

Intel Dividend Announcement

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 given 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 dividend yield of 1.59%. Intel’s dividend payout ratio is 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, for a total transaction 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 link. 0.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hazlett Burt & Watson Inc. increased its holdings in shares of Intel by 8.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 11,463 shares of the chip maker’s stock worth $506,000 after buying an additional 846 shares during the last quarter. OFI Invest Asset Management grew its position in Intel by 91.8% in the first quarter. OFI Invest Asset Management now owns 103,896 shares of the chip maker’s stock worth $4,417,000 after acquiring an additional 49,725 shares in the last quarter. Renaissance Investment Group LLC increased its stake in Intel by 10.9% during the first quarter. Renaissance Investment Group LLC now owns 11,370 shares of the chip maker’s stock worth $502,000 after acquiring an additional 1,120 shares during the last quarter. Stock Yards Bank & Trust Co. raised its position in Intel by 8.1% during the first quarter. Stock Yards Bank & Trust Co. now owns 97,700 shares of the chip maker’s stock valued at $4,315,000 after purchasing an additional 7,306 shares during the period. Finally, Boyd Watterson Asset Management LLC OH lifted its stake in shares of Intel by 2.8% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 47,401 shares of the chip maker’s stock valued at $2,094,000 after purchasing an additional 1,313 shares during the last quarter. 64.53% of the stock is currently owned by 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.