Intel (NASDAQ:INTC) PT Lowered to $32.50 at Wedbush

Intel (NASDAQ:INTC) had its target price reduced by Wedbush from $40.00 to $32.50 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the chip maker’s stock.

A number of other equities analysts have also recently issued reports on the stock. Susquehanna cut their target price on shares of Intel from $40.00 to $35.00 and set a neutral rating for the company in a research report on Friday. UBS Group upped their target price on Intel from $46.00 to $50.00 and gave the company a neutral rating in a research note on Monday, April 1st. Truist Financial reissued a hold rating and set a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Stifel Nicolaus restated a hold rating and issued a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Finally, Morgan Stanley decreased their price objective on Intel from $48.00 to $36.00 and set an equal weight rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $39.75.

Intel Trading Down 1.6 %

Shares of INTC 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. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The business has a fifty day simple moving average of $40.63 and a 200-day simple moving average of $42.27.

Intel Announces Dividend

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

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The transaction was disclosed in a document filed 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Intel in the fourth quarter valued at about $2,424,202,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares during the period. California Public Employees Retirement System lifted its position in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after acquiring an additional 8,140,835 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Intel by 18.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after acquiring an additional 6,064,950 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after purchasing an additional 5,217,549 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Company Profile

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.