Intel (NASDAQ:INTC) Earns “Neutral” Rating from Wedbush

Wedbush reiterated their neutral rating on shares of Intel (NASDAQ:INTC) in a research note released on Wednesday morning, Benzinga reports. Wedbush currently has a $40.00 target price on the chip maker’s stock.

Several other research analysts have also recently weighed in on the stock. Evercore ISI initiated coverage on shares of Intel in a report on Tuesday. They set an in-line rating and a $40.00 price target on the stock. Mizuho cut their price target on shares of Intel from $58.00 to $55.00 and set a buy rating on the stock in a report on Friday, January 26th. Benchmark restated a buy rating and set a $62.00 price target on shares of Intel in a report on Wednesday, April 3rd. Truist Financial restated a hold rating and set a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Intel from $48.00 to $43.00 and set an equal weight rating on the stock in a research report on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Intel has a consensus rating of Hold and a consensus target price of $42.62.

Intel Price Performance

INTC stock opened at $34.20 on Wednesday. The company has a fifty day moving average price of $41.85 and a 200-day moving average price of $42.29. The company has a market capitalization of $144.60 billion, a P/E ratio of 87.69, a PEG ratio of 3.15 and a beta of 1.00. Intel has a 52-week low of $26.85 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.16 billion. During the same period in the previous year, the company earned $0.10 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts expect that Intel will post 0.61 EPS for the current year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 7th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s dividend payout ratio (DPR) is presently 128.21%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average price of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly 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 insiders.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Maryland State Retirement & Pension System grew its stake in Intel by 0.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 331,039 shares of the chip maker’s stock worth $14,622,000 after buying an additional 2,508 shares in the last quarter. Cohen Investment Advisors LLC grew its stake in Intel by 9.7% in the 1st quarter. Cohen Investment Advisors LLC now owns 61,608 shares of the chip maker’s stock worth $2,721,000 after buying an additional 5,441 shares in the last quarter. FORVIS Wealth Advisors LLC grew its stake in Intel by 2.3% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 113,395 shares of the chip maker’s stock worth $5,009,000 after buying an additional 2,569 shares in the last quarter. Veracity Capital LLC grew its stake in Intel by 23.5% in the 1st quarter. Veracity Capital LLC now owns 18,171 shares of the chip maker’s stock worth $803,000 after buying an additional 3,455 shares in the last quarter. Finally, American National Bank & Trust Co. VA purchased a new position in Intel in the 1st quarter worth approximately $4,367,000. Hedge funds and other institutional investors 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.