Intel (NASDAQ:INTC) Price Target Cut to $36.00 by Analysts at Morgan Stanley

Intel (NASDAQ:INTC) had its target price lowered by Morgan Stanley from $48.00 to $36.00 in a report issued on Friday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the chip maker’s stock.

Several other equities analysts have also commented on INTC. HSBC decreased their target price on shares of Intel from $44.00 to $37.00 and set a hold rating on the stock in a report on Tuesday. Evercore ISI began coverage on shares of Intel in a research report on Tuesday, April 16th. They set an in-line rating and a $40.00 target price on the stock. TD Cowen cut their target price on shares of Intel from $42.00 to $35.00 and set a hold rating on the stock in a research report on Friday. Bank of America lowered their price target on shares of Intel from $50.00 to $44.00 and set a neutral rating for the company in a report on Friday, April 12th. Finally, Barclays raised their price target on shares of Intel from $32.00 to $44.00 and gave the stock an equal weight rating in a report on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $39.75.

Intel Price Performance

Shares of INTC opened at $31.88 on Friday. The firm has a market capitalization of $134.79 billion, a PE ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00. The company’s 50-day moving average is $40.88 and its 200-day moving average is $42.23. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.16 billion. During the same period last year, the firm earned $0.10 earnings per share. Intel’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts forecast that Intel will post 0.6 EPS for the current year.

Intel Announces Dividend

The business also recently declared 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 of this dividend is Monday, May 6th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Intel

Several institutional investors have recently added to or reduced their stakes in the business. Barrett & Company Inc. increased its position in shares of Intel by 6.1% during the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after buying an additional 210 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Intel by 3.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock valued at $372,000 after buying an additional 216 shares during the period. New Millennium Group LLC increased its position in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after buying an additional 231 shares during the period. Waldron Private Wealth LLC increased its position in shares of Intel by 0.6% during 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 during the period. Finally, Spreng Capital Management Inc. increased its position in shares of Intel by 1.3% during the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock valued at $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.

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.