Intel (NASDAQ:INTC) Price Target Cut to $33.00 by Analysts at Truist Financial

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

Other equities analysts have also recently issued reports about the stock. Sanford C. Bernstein decreased their target price on shares of Intel from $42.00 to $35.00 and set a market perform rating for the company in a research note on Friday. Cantor Fitzgerald reaffirmed a neutral rating and set a $50.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Citigroup reduced their price objective on shares of Intel from $47.50 to $40.00 and set a neutral rating for the company in a research report on Monday, April 15th. Stifel Nicolaus reaffirmed a hold rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Finally, Barclays reduced their price objective on shares of Intel from $44.00 to $40.00 and set an equal weight rating for the company in a research report on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Intel currently has a consensus rating of Hold and a consensus price target of $39.75.

Intel Price Performance

NASDAQ:INTC opened at $31.88 on Friday. Intel has a 1-year low of $26.85 and a 1-year high of $51.28. 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 fifty day simple moving average of $40.88 and a 200 day simple moving average of $42.23. The stock has a market capitalization of $134.79 billion, a PE ratio of 33.21, a P/E/G ratio of 3.19 and a beta of 1.00.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a net margin of 7.36% and a return on equity of 2.22%. The business had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. During the same period last year, the business earned $0.10 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that Intel will post 0.6 EPS 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 annualized dividend and a yield of 1.57%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is presently 52.08%.

Insider Activity at Intel

In related news, CEO Patrick P. Gelsinger bought 3,000 shares of Intel stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost 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 approximately $1,234,676. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction dated Monday, January 29th. The shares were bought at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the transaction, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were purchased 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 directly owns 31,275 shares of the company’s stock, valued at $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 Investors Weigh In On Intel

A number of institutional investors and hedge funds have recently bought and sold shares of INTC. Norges Bank bought a new position in Intel in the 4th quarter valued at $2,424,202,000. Price T Rowe Associates Inc. MD grew its stake in Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares during the period. California Public Employees Retirement System grew its stake in Intel by 102.6% in the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after purchasing an additional 8,140,835 shares during the period. Bank of New York Mellon Corp grew its stake in Intel by 18.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock valued at $1,376,520,000 after purchasing an additional 6,064,950 shares during the period. Finally, Wellington Management Group LLP grew its stake in Intel by 17.8% in the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after purchasing an additional 5,217,549 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.