Intel (NASDAQ:INTC) Now Covered by Evercore ISI

Evercore ISI assumed coverage on shares of Intel (NASDAQ:INTC) in a research report sent to investors on Tuesday, MarketBeat reports. The brokerage issued an in-line rating and a $40.00 target price on the chip maker’s stock.

Several other equities research analysts have also commented on the stock. Bank of America lowered their price target on shares of Intel from $50.00 to $44.00 and set a neutral rating on the stock in a report on Friday, April 12th. Truist Financial reaffirmed a hold rating and issued a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Needham & Company LLC reaffirmed a hold rating on shares of Intel in a report on Friday, January 26th. Morgan Stanley upped their price target on shares of Intel from $39.00 to $48.00 and gave the company an equal weight rating in a report on Monday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Intel from $38.00 to $42.00 and gave the company a hold rating in a report on Monday, December 18th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intel presently has a consensus rating of Hold and a consensus price target of $42.62.

Intel Price Performance

NASDAQ INTC opened at $34.20 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The stock’s fifty day moving average price is $41.85 and its 200 day moving average price is $42.29. Intel has a 1 year low of $26.85 and a 1 year high of $51.28. The company has a market cap of $144.60 billion, a price-to-earnings ratio of 87.69, a PEG ratio of 3.20 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 (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same period in the prior year, the firm earned $0.10 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts forecast that Intel will post 0.61 earnings per share for the current year.

Intel Announces Dividend

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

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average price 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 of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was acquired at an average price 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 of the company’s stock, valued at $1,336,693.50. The transaction 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 stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently made changes to their positions in the stock. Maryland State Retirement & Pension System boosted its position in shares of Intel by 0.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 331,039 shares of the chip maker’s stock worth $14,622,000 after purchasing an additional 2,508 shares during the period. Cohen Investment Advisors LLC boosted its position in shares of Intel by 9.7% during the 1st quarter. Cohen Investment Advisors LLC now owns 61,608 shares of the chip maker’s stock worth $2,721,000 after purchasing an additional 5,441 shares during the period. FORVIS Wealth Advisors LLC boosted its position in Intel by 2.3% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 113,395 shares of the chip maker’s stock valued at $5,009,000 after buying an additional 2,569 shares during the period. Veracity Capital LLC boosted its position in Intel by 23.5% in the 1st quarter. Veracity Capital LLC now owns 18,171 shares of the chip maker’s stock valued at $803,000 after buying an additional 3,455 shares during the period. Finally, American National Bank & Trust Co. VA purchased a new position in Intel in the 1st quarter valued at 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.