Intel (NASDAQ:INTC) Given New $32.50 Price Target at Wedbush

Intel (NASDAQ:INTC) had its price objective reduced by Wedbush from $40.00 to $32.50 in a research report report published on Friday morning, Benzinga reports. They currently have a neutral rating on the chip maker’s stock.

A number of other equities analysts have also weighed in on the company. Morgan Stanley decreased their target price on Intel from $48.00 to $36.00 and set an equal weight rating on the stock in a research note on Friday. Rosenblatt Securities reiterated a sell rating and set a $17.00 target price on shares of Intel in a research report on Friday. Susquehanna decreased their price target on shares of Intel from $40.00 to $35.00 and set a neutral rating on the stock in a report on Friday. Cantor Fitzgerald reaffirmed a neutral rating and set a $50.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Finally, Benchmark reaffirmed a buy rating and issued a $62.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Four investment 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. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $39.75.

Intel Price Performance

INTC stock opened at $31.88 on Friday. The firm has a 50 day moving average of $40.88 and a 200-day moving average of $42.23. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. Intel has a 12 month low of $26.85 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. As a group, sell-side analysts predict that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Dividend Announcement

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 issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger acquired 3,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were purchased at an average price 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 $1,234,676. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Patrick P. Gelsinger purchased 3,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the acquisition, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. New Millennium Group LLC boosted its holdings in shares of Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of Intel during the fourth quarter worth approximately $27,000. Burkett Financial Services LLC acquired a new position in shares of Intel in the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC bought a new position in shares of Intel during the first quarter worth approximately $27,000. Finally, Legacy Financial Group LLC acquired a new stake in Intel during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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.