Intel (NASDAQ:INTC) Stock Price Down 2.5%

Intel Co. (NASDAQ:INTC) dropped 2.5% during mid-day trading on Wednesday . The stock traded as low as $29.81 and last traded at $29.90. Approximately 15,074,300 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 48,012,945 shares. The stock had previously closed at $30.68.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Stifel Nicolaus restated a “hold” rating and set a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. HSBC cut their target price on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Roth Mkm dropped their price target on Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Morgan Stanley reduced their price objective on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Friday, April 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 stock. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $39.62.

Intel Stock Performance

The company has a market cap of $128.90 billion, a P/E ratio of 31.34, a price-to-earnings-growth ratio of 10.05 and a beta of 1.09. The business has a 50 day moving average price of $38.62 and a two-hundred day moving average price of $41.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors 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 1.65%. Intel’s dividend payout ratio is currently 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at $1,192,668.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of Intel stock in a transaction on Monday, April 29th. The stock was acquired at an average price of $31.42 per share, with a total value of $125,680.00. Following the acquisition, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the acquisition, the chief executive officer now owns 39,375 shares in the company, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barrett & Company Inc. boosted its holdings in Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after acquiring an additional 210 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Intel by 3.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after purchasing an additional 216 shares during the period. New Millennium Group LLC lifted its holdings in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the period. Waldron Private Wealth LLC grew its position in shares of Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares during the period. Finally, Spreng Capital Management Inc. increased its holdings in Intel by 1.3% in the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after acquiring an additional 246 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

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.