Barclays Trims Intel (NASDAQ:INTC) Target Price to $40.00

Intel (NASDAQ:INTC) had its price target lowered by Barclays from $44.00 to $40.00 in a research report sent to investors on Friday, Benzinga reports. Barclays currently has an equal weight rating on the chip maker’s stock.

A number of other research firms have also commented on INTC. Susquehanna lowered their price target on Intel from $40.00 to $35.00 and set a neutral rating for the company in a research report on Friday. Truist Financial reissued a hold rating and issued a $45.00 price target on shares of Intel in a research report on Wednesday, April 3rd. The Goldman Sachs Group lowered their price target on Intel from $39.00 to $34.00 and set a sell rating for the company in a research report on Friday. Mizuho lowered their price target on Intel from $55.00 to $45.00 and set a buy rating for the company in a research report on Friday. Finally, Citigroup lowered their price target on Intel from $47.50 to $40.00 and set a neutral rating for the company in a research report on Monday, April 15th. Four 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 stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $39.75.

Intel Price Performance

Shares of INTC opened at $31.88 on Friday. Intel has a 12-month low of $26.85 and a 12-month high of $51.28. The business’s fifty day moving average is $40.88 and its 200 day moving average is $42.30. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The stock has a market cap of $134.79 billion, a P/E ratio of 33.21, a P/E/G ratio of 2.89 and a beta of 1.00.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 2.22% and a net margin of 7.36%. The company had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period last year, the business earned $0.10 EPS. Intel’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Intel

A number of large investors have recently modified their holdings of INTC. New Millennium Group LLC boosted its position in shares of 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 acquiring an additional 231 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in Intel in the 4th quarter worth approximately $27,000. Burkett Financial Services LLC bought a new stake in Intel in the 4th quarter worth approximately $27,000. Tributary Capital Management LLC bought a new stake in Intel in the 1st quarter worth approximately $27,000. Finally, Legacy Financial Group LLC bought a new stake in Intel in the 3rd quarter worth approximately $30,000. Institutional investors 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.