The Goldman Sachs Group Cuts Intel (NASDAQ:INTC) Price Target to $34.00

Intel (NASDAQ:INTC) had its price target reduced by The Goldman Sachs Group from $39.00 to $34.00 in a report published on Friday, Benzinga reports. They currently have a sell rating on the chip maker’s stock.

Several other equities analysts have also recently issued reports on INTC. Wedbush restated a neutral rating and issued a $40.00 price target on shares of Intel in a research report on Wednesday, April 17th. Barclays boosted their target price on Intel from $32.00 to $44.00 and gave the company an equal weight rating in a report on Tuesday, January 16th. Cantor Fitzgerald reaffirmed a neutral rating and set a $50.00 price target on shares of Intel in a report on Wednesday, April 3rd. Mizuho dropped their price objective on shares of Intel from $55.00 to $45.00 and set a buy rating on the stock in a research note on Friday. Finally, Benchmark restated a buy rating and set a $62.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Intel presently has an average rating of Hold and an average price target of $39.75.

Intel Stock Performance

Shares of INTC opened at $31.88 on Friday. The company’s 50 day simple moving average is $40.88 and its 200-day simple moving average is $42.30. The firm 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. Intel has a 12-month low of $26.85 and a 12-month high of $51.28. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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. Intel had a net margin of 7.36% and a return on equity of 2.22%. The company had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same period last year, the firm posted $0.10 EPS. Intel’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Intel will post 0.6 EPS for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors 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 yield of 1.57%. Intel’s payout ratio is currently 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Intel by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after purchasing an additional 4,678,169 shares in the last quarter. Capital International Investors raised its holdings in Intel by 0.3% in the fourth quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after buying an additional 318,495 shares during the period. Primecap Management Co. CA lifted its position in Intel by 0.6% during the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after buying an additional 475,636 shares in the last quarter. Norges Bank acquired a new stake in shares of Intel in the fourth quarter worth $2,424,202,000. Finally, Northern Trust Corp raised its stake in shares of Intel by 3.7% in the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after acquiring an additional 1,626,127 shares during the period. 64.53% of the stock is owned by hedge funds and other 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.