Intel (NASDAQ:INTC) Price Target Lowered to $35.00 at Sanford C. Bernstein

Intel (NASDAQ:INTC) had its price target lowered by Sanford C. Bernstein from $42.00 to $35.00 in a research note released on Friday, Benzinga reports. The firm currently has a market perform rating on the chip maker’s stock.

Other equities analysts have also recently issued reports about the stock. Mizuho dropped their price target on shares of Intel from $55.00 to $45.00 and set a buy rating for the company in a research note on Friday. Morgan Stanley boosted their target price on Intel from $39.00 to $48.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Wedbush reiterated a neutral rating and issued a $40.00 price target on shares of Intel in a report on Wednesday, April 17th. The Goldman Sachs Group dropped their price objective on Intel from $39.00 to $34.00 and set a sell rating for the company in a report on Friday. Finally, TD Cowen reduced their target price on Intel from $42.00 to $35.00 and set a hold rating on the stock in a research note on Friday. Four 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 company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $39.75.

Intel Stock Down 1.6 %

NASDAQ INTC opened at $31.36 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel has a 52 week low of $26.85 and a 52 week high of $51.28. The firm has a market capitalization of $132.59 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 2.89 and a beta of 1.00. The company has a fifty day moving average of $40.63 and a two-hundred day moving average of $42.27.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors 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 1.59%. The ex-dividend date is Monday, May 6th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Intel

Large investors have recently made changes to their positions in the business. CX Institutional boosted its holdings in Intel by 13.4% in the third quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock worth $746,000 after acquiring an additional 2,474 shares in the last quarter. Simplicity Solutions LLC boosted its stake in Intel by 45.5% in the 3rd quarter. Simplicity Solutions LLC now owns 111,005 shares of the chip maker’s stock worth $3,946,000 after purchasing an additional 34,739 shares in the last quarter. Connecticut Wealth Management LLC grew its position in Intel by 7.3% during the 3rd quarter. Connecticut Wealth Management LLC now owns 12,751 shares of the chip maker’s stock worth $453,000 after purchasing an additional 872 shares during the last quarter. Ballentine Partners LLC increased its stake in Intel by 5.6% during the 3rd quarter. Ballentine Partners LLC now owns 53,308 shares of the chip maker’s stock valued at $1,895,000 after purchasing an additional 2,806 shares in the last quarter. Finally, TFG Advisers LLC lifted its stake in shares of Intel by 2.8% during the third quarter. TFG Advisers LLC now owns 14,521 shares of the chip maker’s stock worth $516,000 after buying an additional 391 shares during the period. 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.