Rosenblatt Securities Reaffirms Sell Rating for Intel (NASDAQ:INTC)

Rosenblatt Securities reaffirmed their sell rating on shares of Intel (NASDAQ:INTC) in a report issued on Friday, Benzinga reports. The firm currently has a $17.00 price target on the chip maker’s stock.

Several other research firms also recently issued reports on INTC. Wedbush reiterated a neutral rating and set a $40.00 price objective on shares of Intel in a research note on Wednesday, April 17th. Truist Financial reaffirmed a hold rating and set a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. HSBC cut their price objective on Intel from $44.00 to $37.00 and set a hold rating on the stock in a research report on Tuesday, April 23rd. Evercore ISI assumed coverage on Intel in a research report on Tuesday, April 16th. They issued an in-line rating and a $40.00 target price for the company. Finally, Needham & Company LLC reiterated a hold rating on shares of Intel in a report on Friday, January 26th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $39.75.

Intel Stock Performance

NASDAQ INTC opened at $31.36 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel has a 1-year low of $26.85 and a 1-year high of $51.28. 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 business’s 50-day simple moving average is $40.63 and its 200-day simple moving average is $42.27.

Intel Dividend Announcement

The firm also recently disclosed 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. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio is presently 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost 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 of the company’s stock, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently modified their holdings of the company. New Millennium Group LLC boosted its stake in Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Frazier Financial Advisors LLC acquired a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. Burkett Financial Services LLC bought a new stake in shares of Intel during the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC acquired a new position in shares of Intel during the first quarter worth approximately $27,000. Finally, Legacy Financial Group LLC bought a new position in Intel in the 3rd quarter worth approximately $30,000. 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.