Intel (NASDAQ:INTC) Shares Down 1%

Shares of Intel Co. (NASDAQ:INTC) dropped 1% during mid-day trading on Tuesday . The stock traded as low as $30.86 and last traded at $31.05. Approximately 19,307,386 shares traded hands during trading, a decline of 60% from the average daily volume of 47,915,660 shares. The stock had previously closed at $31.36.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Raymond James cut their target price on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Benchmark reiterated a “buy” rating and set a $62.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Mizuho cut their price objective on shares of Intel from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Friday. Citigroup cut their price target on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a report on Monday, April 15th. Finally, Roth Mkm lowered their price objective on Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday. Four equities research 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 stock. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average target price of $39.75.

Intel Stock Performance

The company has a market cap of $129.76 billion, a P/E ratio of 32.34, a P/E/G ratio of 2.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The business has a 50-day moving average of $40.63 and a two-hundred day moving average of $42.27.

Intel Dividend Announcement

The firm 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 dividend of $0.125 per share. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.63%. Intel’s dividend payout ratio is presently 52.08%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently modified their holdings of the stock. New Millennium Group LLC boosted its stake in shares of Intel by 87.2% during 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. Burkett Financial Services LLC purchased a new stake in shares of Intel in the fourth quarter valued at approximately $27,000. Frazier Financial Advisors LLC purchased a new position in shares of Intel during the 4th quarter valued at approximately $27,000. Tributary Capital Management LLC acquired a new stake in Intel in the 1st quarter valued at $27,000. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Intel in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.