The Goldman Sachs Group Lowers Intel (NASDAQ:INTC) Price Target to $34.00

Intel (NASDAQ:INTC) had its price target lowered by The Goldman Sachs Group from $39.00 to $34.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a sell rating on the chip maker’s stock.

A number of other research analysts have also recently commented on the company. Wedbush restated a neutral rating and set a $40.00 price objective on shares of Intel in a research note on Wednesday, April 17th. Mizuho decreased their price target on Intel from $55.00 to $45.00 and set a buy rating for the company in a report on Friday. Wells Fargo & Company lowered their price objective on shares of Intel from $48.00 to $43.00 and set an equal weight rating for the company in a research report on Tuesday, April 9th. Stifel Nicolaus reissued a hold rating and set a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Finally, Truist Financial reaffirmed a hold rating and set a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Intel has a consensus rating of Hold and an average target price of $39.75.

Intel Stock Performance

NASDAQ:INTC opened at $31.36 on Friday. The firm’s fifty day simple moving average is $40.63 and its 200 day simple moving average is $42.27. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel has a twelve month low of $26.85 and a twelve month 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.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.59%. Intel’s payout ratio is currently 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, 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. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of large investors have recently modified their holdings of INTC. Hazlett Burt & Watson Inc. grew its position in Intel by 8.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 11,463 shares of the chip maker’s stock worth $506,000 after purchasing an additional 846 shares during the last quarter. OFI Invest Asset Management boosted its position in shares of Intel by 91.8% during the first quarter. OFI Invest Asset Management now owns 103,896 shares of the chip maker’s stock worth $4,417,000 after buying an additional 49,725 shares during the period. Renaissance Investment Group LLC grew its holdings in Intel by 10.9% in the 1st quarter. Renaissance Investment Group LLC now owns 11,370 shares of the chip maker’s stock worth $502,000 after buying an additional 1,120 shares in the last quarter. Stock Yards Bank & Trust Co. increased its position in Intel by 8.1% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 97,700 shares of the chip maker’s stock valued at $4,315,000 after acquiring an additional 7,306 shares during the period. Finally, Boyd Watterson Asset Management LLC OH raised its stake in Intel by 2.8% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 47,401 shares of the chip maker’s stock valued at $2,094,000 after acquiring an additional 1,313 shares in the last quarter. 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.