Barclays Trims Intel (NASDAQ:INTC) Target Price to $35.00

Intel (NASDAQ:INTCGet Rating) had its price target trimmed by Barclays from $40.00 to $35.00 in a report released on Friday morning, The Fly reports. The brokerage currently has an underweight rating on the chip maker’s stock.

INTC has been the subject of a number of other research reports. Truist Financial dropped their target price on shares of Intel from $53.00 to $49.00 in a research report on Friday, April 8th. Robert W. Baird downgraded shares of Intel from an outperform rating to a neutral rating and dropped their target price for the stock from $60.00 to $40.00 in a research report on Friday. Susquehanna Bancshares dropped their target price on shares of Intel from $42.00 to $40.00 and set a neutral rating for the company in a research report on Tuesday, July 19th. Wedbush reissued an underperform rating and set a $45.00 target price on shares of Intel in a research report on Thursday, April 21st. Finally, Sanford C. Bernstein set a $35.00 target price on shares of Intel in a research report on Monday, July 25th. Eight research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $43.92.

Intel Trading Up 1.8 %

NASDAQ INTC opened at $36.96 on Friday. Intel has a 12 month low of $35.24 and a 12 month high of $56.28. The company has a 50-day moving average of $39.39 and a 200-day moving average of $44.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.86 and a quick ratio of 1.41. The company has a market cap of $151.13 billion, a P/E ratio of 7.91, a P/E/G ratio of 2.10 and a beta of 0.62.

Intel (NASDAQ:INTCGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The chip maker reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.41). Intel had a net margin of 26.03% and a return on equity of 16.65%. The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $17.93 billion. During the same period in the prior year, the company earned $1.28 EPS. The company’s revenue was down 17.3% compared to the same quarter last year. As a group, equities analysts predict that Intel will post 2.3 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Sunday, August 7th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, August 5th. Intel’s dividend payout ratio is presently 31.26%.

Institutional Investors Weigh In On Intel

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Intel by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 349,634,956 shares of the chip maker’s stock valued at $17,327,909,000 after buying an additional 5,076,202 shares during the last quarter. BlackRock Inc. grew its position in shares of Intel by 3.0% during the 1st quarter. BlackRock Inc. now owns 341,450,251 shares of the chip maker’s stock valued at $16,922,274,000 after buying an additional 10,103,061 shares during the last quarter. State Street Corp grew its position in shares of Intel by 1.1% during the 1st quarter. State Street Corp now owns 178,991,617 shares of the chip maker’s stock valued at $8,870,825,000 after buying an additional 1,874,534 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Intel by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 78,100,727 shares of the chip maker’s stock valued at $4,013,364,000 after buying an additional 1,554,610 shares during the last quarter. Finally, Primecap Management Co. CA grew its position in shares of Intel by 9.8% during the 1st quarter. Primecap Management Co. CA now owns 43,253,961 shares of the chip maker’s stock valued at $2,143,666,000 after buying an additional 3,852,666 shares during the last quarter. Institutional investors own 62.74% of the company’s stock.

About Intel

(Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

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