Intel (NASDAQ:INTC) Price Target Lowered to $36.00 at Evercore ISI

Intel (NASDAQ:INTC) had its price target trimmed by Evercore ISI from $40.00 to $36.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an in-line rating on the chip maker’s stock.

Several other research firms have also recently commented on INTC. Benchmark reiterated a buy rating and set a $62.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Raymond James reduced their price objective on shares of Intel from $54.00 to $52.00 and set an outperform rating on the stock in a research note on Friday, January 26th. HSBC dropped their target price on shares of Intel from $44.00 to $37.00 and set a hold rating for the company in a research report on Tuesday, April 23rd. TD Cowen cut their target price on shares of Intel from $42.00 to $35.00 and set a hold rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald reiterated a neutral rating and issued a $50.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Intel presently has an average rating of Hold and an average price target of $39.75.

Intel Trading Down 1.6 %

INTC opened at $31.36 on Friday. The firm has a market capitalization 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 firm’s 50 day moving average is $40.63 and its 200-day moving average is $42.27. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel has a 52-week low of $26.85 and a 52-week high of $51.28.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders 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 (DPR) is presently 52.08%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several hedge funds have recently bought and sold shares of INTC. CX Institutional grew its position in shares of Intel by 13.4% in the third quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock valued at $746,000 after purchasing an additional 2,474 shares during the last quarter. Simplicity Solutions LLC boosted its stake in Intel by 45.5% during the 3rd quarter. Simplicity Solutions LLC now owns 111,005 shares of the chip maker’s stock valued at $3,946,000 after purchasing an additional 34,739 shares during the period. Connecticut Wealth Management LLC boosted its stake in Intel by 7.3% during the 3rd quarter. Connecticut Wealth Management LLC now owns 12,751 shares of the chip maker’s stock valued at $453,000 after purchasing an additional 872 shares during the period. Ballentine Partners LLC increased its position in Intel by 5.6% in the 3rd quarter. Ballentine Partners LLC now owns 53,308 shares of the chip maker’s stock worth $1,895,000 after buying an additional 2,806 shares during the period. Finally, TFG Advisers LLC boosted its position in shares of Intel by 2.8% in the third quarter. TFG Advisers LLC now owns 14,521 shares of the chip maker’s stock valued at $516,000 after acquiring an additional 391 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

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.