Intel (NASDAQ:INTC) Price Target Cut to $40.00 by Analysts at Susquehanna

Intel (NASDAQ:INTC) had its price target trimmed by Susquehanna from $42.00 to $40.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the chip maker’s stock.

INTC has been the subject of a number of other reports. Wedbush reiterated a neutral rating and issued a $40.00 target price on shares of Intel in a research report on Wednesday. Stifel Nicolaus reissued a hold rating and issued a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Rosenblatt Securities reissued a sell rating and issued a $17.00 price objective on shares of Intel in a report on Friday, February 23rd. Truist Financial reissued a hold rating and issued a $45.00 price objective on shares of Intel in a report on Wednesday, April 3rd. Finally, Citigroup dropped their price objective on shares of Intel from $47.50 to $40.00 and set a neutral rating for the company in a report on Monday. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Intel currently has an average rating of Hold and an average target price of $42.62.

Intel Price Performance

Shares of NASDAQ INTC opened at $35.68 on Wednesday. The firm has a 50-day simple moving average of $42.18 and a 200-day simple moving average of $42.35. The stock has a market capitalization of $150.86 billion, a price-to-earnings ratio of 91.49, a price-to-earnings-growth ratio of 3.21 and a beta of 1.00. The company has a quick ratio of 1.15, a current ratio of 1.54 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 (NASDAQ:INTC) last issued its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The business had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. On average, equities analysts predict that Intel will post 0.62 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Tuesday, February 6th. Intel’s payout ratio is 128.21%.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction dated Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Patrick P. Gelsinger bought 2,800 shares of Intel 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 completion of the acquisition, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger bought 3,000 shares of Intel stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several hedge funds have recently added to or reduced their stakes in INTC. Moneta Group Investment Advisors LLC increased its holdings in shares of Intel by 100,953.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock valued at $1,351,468,000 after acquiring an additional 51,083,262 shares during the period. Norges Bank purchased a new stake in shares of Intel during the 4th quarter worth $2,424,202,000. Price T Rowe Associates Inc. MD boosted its position 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 worth $1,878,572,000 after purchasing an additional 31,575,084 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Intel by 4,407.3% during the 1st quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after purchasing an additional 16,074,485 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Intel by 171.1% during the 2nd quarter. Barclays PLC now owns 21,404,715 shares of the chip maker’s stock worth $715,773,000 after purchasing an additional 13,507,774 shares in the last quarter. 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.