Intel (NASDAQ:INTC) Price Target Cut to $33.00

Intel (NASDAQ:INTC) had its price target reduced by Truist Financial from $45.00 to $33.00 in a research note released on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the chip maker’s stock.

Several other equities research analysts have also issued reports on the stock. Mizuho decreased their price target on shares of Intel from $55.00 to $45.00 and set a buy rating on the stock in a report on Friday. TD Cowen reduced their price objective on Intel from $42.00 to $35.00 and set a hold rating on the stock in a research report on Friday. Morgan Stanley cut their price target on Intel from $48.00 to $36.00 and set an equal weight rating on the stock in a research note on Friday. Bank of America lowered their price objective on Intel from $50.00 to $44.00 and set a neutral rating for the company in a research note on Friday, April 12th. Finally, Benchmark reiterated a buy rating and set a $62.00 target price on shares of Intel in a research 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $39.75.

Intel Stock Performance

NASDAQ:INTC opened at $31.36 on Friday. Intel has a twelve month low of $26.85 and a twelve month high of $51.28. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $40.63 and its 200 day simple moving average is $42.27. The firm has a market capitalization of $132.59 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00.

Intel Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were purchased 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 of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Institutional investors have recently modified their holdings of the company. Barrett & Company Inc. raised its holdings in Intel by 6.1% during the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after buying an additional 210 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Intel by 3.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after acquiring an additional 216 shares during the last quarter. New Millennium Group LLC lifted its position in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after purchasing an additional 232 shares during the last quarter. Finally, Spreng Capital Management Inc. increased its holdings in 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 purchasing an additional 246 shares in the last quarter. 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.