Intel (NASDAQ:INTC) Given New $38.00 Price Target at Wells Fargo & Company

Intel (NASDAQ:INTC) had its price target decreased by Wells Fargo & Company from $43.00 to $38.00 in a report issued on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the chip maker’s stock.

A number of other analysts have also recently commented on the stock. Morgan Stanley lowered their target price on shares of Intel from $48.00 to $36.00 and set an equal weight rating for the company in a research note on Friday. Raymond James reduced their price target on shares of Intel from $54.00 to $52.00 and set an outperform rating for the company in a research report on Friday, January 26th. Bank of America reduced their price target on shares of Intel from $50.00 to $44.00 and set a neutral rating for the company in a research report on Friday, April 12th. UBS Group raised their price target on shares of Intel from $46.00 to $50.00 and gave the stock a neutral rating in a research report on Monday, April 1st. Finally, Evercore ISI reduced their price target on shares of Intel from $40.00 to $36.00 and set an in-line rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $39.75.

Intel Stock Down 9.2 %

Shares of Intel stock opened at $31.88 on Friday. 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 has a 1 year low of $26.85 and a 1 year high of $51.28. The firm’s 50-day moving average is $40.88 and its two-hundred day moving average is $42.23. The stock has a market cap of $134.79 billion, a price-to-earnings ratio of 33.21, a PEG 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.22%. The business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period last year, the business earned $0.10 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts expect that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors 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 of this dividend is Monday, May 6th. Intel’s payout ratio is 52.08%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

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

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.