Evercore ISI Cuts Intel (NASDAQ:INTC) Price Target to $36.00

Intel (NASDAQ:INTC) had its price target trimmed by Evercore ISI from $40.00 to $36.00 in a report published on Friday, Benzinga reports. The firm currently has an in-line rating on the chip maker’s stock.

INTC has been the subject of several other research reports. Needham & Company LLC restated a hold rating on shares of Intel in a research note on Friday. Raymond James decreased their target price on Intel from $54.00 to $52.00 and set an outperform rating for the company in a research note on Friday, January 26th. Sanford C. Bernstein decreased their target price on Intel from $42.00 to $35.00 and set a market perform rating for the company in a research note on Friday. Truist Financial restated a hold rating and set a $45.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Finally, TD Cowen decreased their target price on Intel from $42.00 to $35.00 and set a hold rating for the company in a research note on Friday. Four investment 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 company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $39.75.

Intel Stock Performance

INTC opened at $31.88 on Friday. The company has a market cap of $134.79 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. The stock has a 50-day moving average of $40.88 and a 200-day moving average of $42.30. Intel has a 52-week low of $26.85 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. Intel had a return on equity of 2.22% and a net margin of 7.36%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. As a group, equities research analysts forecast that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The firm 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 1.57%. Intel’s dividend payout ratio is 52.08%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INTC. New Millennium Group LLC boosted its position in 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 last quarter. Frazier Financial Advisors LLC bought a new position in Intel in the 4th quarter valued at $27,000. Burkett Financial Services LLC bought a new position in Intel in the 4th quarter valued at $27,000. Tributary Capital Management LLC bought a new position in Intel in the 1st quarter valued at $27,000. Finally, Legacy Financial Group LLC bought a new position in shares of Intel in the 3rd quarter worth $30,000. 64.53% of the stock is currently 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.