Intel (NASDAQ:INTC) Price Target Cut to $44.00 by Analysts at Bank of America

Intel (NASDAQ:INTC) had its target price reduced by Bank of America from $50.00 to $44.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the chip maker’s stock.

A number of other brokerages also recently commented on INTC. Rosenblatt Securities reissued a sell rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, February 23rd. Cantor Fitzgerald reissued a neutral rating and issued a $50.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Stifel Nicolaus reaffirmed a hold rating and issued a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Needham & Company LLC reaffirmed a hold rating on shares of Intel in a report on Friday, January 26th. Finally, Truist Financial reaffirmed a hold rating and issued a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $42.69.

Intel Stock Performance

Intel stock opened at $36.31 on Friday. The company has a 50 day moving average price of $42.45 and a 200-day moving average price of $42.39. 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 has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The company has a market capitalization of $153.52 billion, a PE ratio of 93.10, a P/E/G ratio of 3.16 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. As a group, equities analysts forecast that Intel will post 0.62 earnings per share for the current year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.38%. Intel’s dividend payout ratio (DPR) is presently 128.21%.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the purchase, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Intel

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new stake in Intel in the 2nd quarter valued at approximately $25,000. 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 period. Frazier Financial Advisors LLC purchased a new position in Intel in the 4th quarter valued at approximately $27,000. Burkett Financial Services LLC purchased a new position in Intel in the 4th quarter valued at approximately $27,000. Finally, Hanseatic Management Services Inc. purchased a new position in Intel in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.