Intel (NASDAQ:INTC) Price Target Cut to $35.00

Intel (NASDAQ:INTC) had its target price reduced by JPMorgan Chase & Co. from $37.00 to $35.00 in a report published on Friday morning, Benzinga reports. They currently have an underweight rating on the chip maker’s stock.

INTC has been the topic of a number of other research reports. Evercore ISI initiated coverage on Intel in a report on Tuesday, April 16th. They issued an in-line rating and a $40.00 price target on the stock. Raymond James decreased their target price on shares of Intel from $54.00 to $52.00 and set an outperform rating on the stock in a research report on Friday, January 26th. UBS Group boosted their price target on Intel from $46.00 to $50.00 and gave the company a neutral rating in a report on Monday, April 1st. Mizuho reduced their price target on Intel from $55.00 to $45.00 and set a buy rating on the stock in a research note on Friday. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Intel in a research report on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Intel currently has an average rating of Hold and a consensus target price of $39.75.

Intel Trading Down 9.2 %

NASDAQ:INTC opened at $31.88 on Friday. The stock has a market capitalization of $134.79 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.89 and a beta of 1.00. Intel has a 1 year low of $26.85 and a 1 year high of $51.28. The stock has a fifty day moving average price of $40.88 and a two-hundred day moving average price of $42.30. 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 (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.19%. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same quarter last year, the business earned $0.10 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Dividend Announcement

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

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

A number of institutional investors have recently modified their holdings of INTC. CX Institutional grew its position in shares of Intel by 13.4% during the 3rd quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock valued at $746,000 after buying an additional 2,474 shares during the last quarter. Simplicity Solutions LLC raised its position in shares of Intel by 45.5% during the 3rd quarter. Simplicity Solutions LLC now owns 111,005 shares of the chip maker’s stock worth $3,946,000 after purchasing an additional 34,739 shares during the period. Connecticut Wealth Management LLC lifted its holdings in shares of Intel by 7.3% in the 3rd quarter. Connecticut Wealth Management LLC now owns 12,751 shares of the chip maker’s stock worth $453,000 after purchasing an additional 872 shares during the last quarter. Ballentine Partners LLC boosted its position in Intel by 5.6% during the 3rd quarter. Ballentine Partners LLC now owns 53,308 shares of the chip maker’s stock valued at $1,895,000 after purchasing an additional 2,806 shares during the period. Finally, TFG Advisers LLC grew its stake in Intel by 2.8% during the 3rd quarter. TFG Advisers LLC now owns 14,521 shares of the chip maker’s stock worth $516,000 after buying an additional 391 shares during 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.