Intel (NASDAQ:INTC) Price Target Cut to $34.00

Intel (NASDAQ:INTC) had its target price trimmed by The Goldman Sachs Group from $39.00 to $34.00 in a report released on Friday morning, Benzinga reports. The firm currently has a sell rating on the chip maker’s stock.

Several other research firms also recently issued reports on INTC. Morgan Stanley upped their price objective 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. TD Cowen dropped their target price on Intel from $42.00 to $35.00 and set a hold rating on the stock in a research report on Friday. Evercore ISI assumed coverage on Intel in a research report on Tuesday, April 16th. They issued an in-line rating and a $40.00 target price on the stock. Susquehanna dropped their target price on Intel from $42.00 to $40.00 and set a neutral rating on the stock in a research report on Wednesday, April 17th. Finally, Bank of America dropped their target price on Intel from $50.00 to $44.00 and set a neutral rating on the stock in a research report on Friday, April 12th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $39.75.

Intel Stock Performance

INTC opened at $31.88 on Friday. Intel has a 52-week low of $26.85 and a 52-week high of $51.28. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The company has a market cap of $134.79 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. The firm’s 50-day moving average price is $40.88 and its 200-day moving average price is $42.23.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 net margin of 7.36% and a return on equity of 2.22%. The firm had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts anticipate that Intel will post 0.6 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s payout ratio is 52.08%.

Insider Transactions at Intel

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

Institutional Trading of Intel

Hedge funds and other institutional investors have recently modified their holdings of the stock. New Millennium Group LLC increased its stake in shares of Intel by 87.2% in 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 during the last quarter. Burkett Financial Services LLC acquired a new stake in shares of Intel in the 4th quarter worth $27,000. Frazier Financial Advisors LLC acquired a new stake in shares of Intel in the 4th quarter worth $27,000. Tributary Capital Management LLC acquired a new stake in shares of Intel in the 1st quarter worth $27,000. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Intel in the 4th quarter worth $36,000. 64.53% of the stock is owned by institutional investors and hedge funds.

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.