Intel (NASDAQ:INTC) Price Target Cut to $40.00 by Analysts at Barclays

Intel (NASDAQ:INTC) had its target price reduced by Barclays from $44.00 to $40.00 in a research report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the chip maker’s stock.

Several other equities research analysts have also recently weighed in on INTC. JPMorgan Chase & Co. decreased their price target on Intel from $37.00 to $35.00 and set an underweight rating on the stock in a research report on Friday. Susquehanna decreased their price target on Intel from $40.00 to $35.00 and set a neutral rating on the stock in a research report on Friday. TD Cowen decreased their price target on Intel from $42.00 to $35.00 and set a hold rating on the stock in a research report on Friday. Benchmark reiterated a buy rating and set a $62.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Finally, Bank of America decreased their price target on Intel from $50.00 to $44.00 and set a neutral rating on the stock in a research report on Friday, April 12th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $39.75.

Intel Price Performance

INTC opened at $31.88 on Friday. Intel has a 1 year low of $26.85 and a 1 year high of $51.28. The firm’s fifty day moving average price is $40.88 and its two-hundred day moving average price is $42.23. The company has a market capitalization of $134.79 billion, a price-to-earnings ratio of 33.21, a P/E/G ratio of 3.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (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 business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the previous year, the business posted $0.10 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Dividend Announcement

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

Insider Activity

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

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Slow Capital Inc. raised its holdings in Intel by 0.9% in the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock worth $2,749,000 after purchasing an additional 508 shares in the last quarter. Altus Wealth Group LLC raised its holdings in Intel by 29.4% in the fourth quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock worth $1,272,000 after purchasing an additional 5,759 shares in the last quarter. Alera Investment Advisors LLC bought a new position in Intel in the fourth quarter worth $201,000. Vanguard Capital Wealth Advisors raised its holdings in Intel by 1.3% in the third quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock worth $1,613,000 after purchasing an additional 574 shares in the last quarter. Finally, Prosperity Wealth Management Inc. bought a new position in Intel in the fourth quarter worth $293,000. Institutional investors 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.