Intel (NASDAQ:INTC) Price Target Cut to $36.00 by Analysts at Morgan Stanley

Intel (NASDAQ:INTC) had its price target lowered by Morgan Stanley from $48.00 to $36.00 in a research note released on Friday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the chip maker’s stock.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their price objective on Intel from $37.00 to $35.00 and set an underweight rating for the company in a research note on Friday. Sanford C. Bernstein reduced their price objective on Intel from $42.00 to $35.00 and set a market perform rating for the company in a research note on Friday. Wedbush restated a neutral rating and issued a $40.00 price objective on shares of Intel in a research note on Wednesday, April 17th. Needham & Company LLC restated a hold rating on shares of Intel in a research note on Friday. Finally, Truist Financial restated a hold rating and issued a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Intel currently has a consensus rating of Hold and an average target price of $39.75.

Intel Trading Down 9.2 %

Intel stock opened at $31.88 on Friday. The stock has a 50-day moving average of $40.88 and a two-hundred day moving average of $42.23. 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 one year low of $26.85 and a one year high of $51.28. The stock has a market cap of $134.79 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 2.22% and a net margin of 7.36%. The company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same period last year, the business posted $0.10 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Intel will post 0.6 EPS for the current fiscal year.

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 issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is currently 52.08%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were 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 directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger purchased 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, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Intel

A number of institutional investors have recently made changes to their positions in the company. Artemis Wealth Advisors LLC purchased a new position in Intel during the first quarter worth approximately $3,799,000. Vigilare Wealth Management lifted its position in Intel by 4.8% during the first quarter. Vigilare Wealth Management now owns 11,000 shares of the chip maker’s stock worth $486,000 after buying an additional 500 shares in the last quarter. Finer Wealth Management Inc. lifted its position in Intel by 5.6% during the first quarter. Finer Wealth Management Inc. now owns 74,210 shares of the chip maker’s stock worth $3,278,000 after buying an additional 3,944 shares in the last quarter. BayBridge Capital Group LLC lifted its position in Intel by 505.9% during the first quarter. BayBridge Capital Group LLC now owns 31,505 shares of the chip maker’s stock worth $1,392,000 after buying an additional 26,305 shares in the last quarter. Finally, Harrington Investments INC lifted its position in Intel by 3.8% during the first quarter. Harrington Investments INC now owns 87,316 shares of the chip maker’s stock worth $3,857,000 after buying an additional 3,194 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

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.