Intel (NASDAQ:INTC) Price Target Lowered to $35.00 at Roth Mkm

Intel (NASDAQ:INTC) had its price objective trimmed by Roth Mkm from $45.00 to $35.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the chip maker’s stock.

Several other brokerages have also recently weighed in on INTC. Wells Fargo & Company lowered their price target 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. Barclays dropped their target price on Intel from $44.00 to $40.00 and set an equal weight rating on the stock in a research report on Friday. Citigroup reduced their price target on Intel from $47.50 to $40.00 and set a neutral rating for the company in a research report on Monday, April 15th. Evercore ISI cut their target price on Intel from $40.00 to $36.00 and set an in-line rating on the stock in a research note on Friday. Finally, Needham & Company LLC reissued a hold rating on shares of Intel in a research report on Friday. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Intel currently has an average rating of Hold and an average target price of $39.75.

Intel Stock Performance

INTC stock opened at $31.36 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. Intel has a 1-year low of $26.85 and a 1-year high of $51.28. The business has a 50-day moving average price of $40.63 and a 200 day moving average price of $42.27. The company has a market capitalization of $132.59 billion, a P/E ratio of 32.67, a PEG ratio of 2.89 and a beta of 1.00.

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 issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.59%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intel

Several institutional investors have recently made changes to their positions in the company. Barrett & Company Inc. grew its position in shares of Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after acquiring an additional 210 shares during the period. Revolve Wealth Partners LLC boosted its position in Intel by 3.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after purchasing an additional 216 shares in the last quarter. New Millennium Group LLC grew its holdings in Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Waldron Private Wealth LLC increased its position in shares of Intel by 0.6% in the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after buying an additional 232 shares in the last quarter. Finally, Spreng Capital Management Inc. raised its stake in shares of Intel by 1.3% during the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after buying an additional 246 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.