Intel (NASDAQ:INTC) Given New $35.00 Price Target at Susquehanna

Intel (NASDAQ:INTC) had its target price reduced by Susquehanna from $40.00 to $35.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the chip maker’s stock.

A number of other research analysts have also recently weighed in on the stock. Wedbush restated a neutral rating and set a $40.00 target price on shares of Intel in a research note on Wednesday, April 17th. Wells Fargo & Company dropped their price objective on Intel from $48.00 to $43.00 and set an equal weight rating for the company in a research note on Tuesday, April 9th. Bank of America decreased their target price on Intel from $50.00 to $44.00 and set a neutral rating on the stock in a research note on Friday, April 12th. Citigroup cut 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, April 15th. Finally, Barclays boosted their target price on shares of Intel from $32.00 to $44.00 and gave the stock an equal weight rating in a report on Tuesday, January 16th. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $39.75.

Intel Price Performance

NASDAQ INTC opened at $31.36 on Friday. The stock has a market cap of $132.59 billion, a price-to-earnings ratio of 32.67, a PEG 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’s 50 day moving average is $40.63 and its two-hundred day moving average is $42.27. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction 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 Investors Weigh In On Intel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Intel during the fourth quarter valued at approximately $2,424,202,000. Price T Rowe Associates Inc. MD increased its holdings in 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 during the period. California Public Employees Retirement System raised its position in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after purchasing an additional 8,140,835 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Intel by 18.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after buying an additional 6,064,950 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after buying an additional 5,217,549 shares in the last quarter. 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.