Mizuho Cuts Intel (NASDAQ:INTC) Price Target to $45.00

Intel (NASDAQ:INTC) had its price target reduced by Mizuho from $55.00 to $45.00 in a research note issued to investors on Friday morning, Benzinga reports. Mizuho currently has a buy rating on the chip maker’s stock.

Several other research analysts have also issued reports on INTC. Susquehanna reduced their target price on shares of Intel from $42.00 to $40.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald reaffirmed a neutral rating and set a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Citigroup cut their price target on Intel from $47.50 to $40.00 and set a neutral rating on the stock in a research note on Monday, April 15th. Raymond James dropped their price objective on Intel from $54.00 to $52.00 and set an outperform rating for the company in a report on Friday, January 26th. Finally, Evercore ISI began coverage on Intel in a report on Tuesday, April 16th. They set an in-line rating and a $40.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $39.75.

Intel Trading Down 1.6 %

Shares of INTC opened at $31.36 on Friday. The stock’s fifty day simple moving average is $40.63 and its 200-day simple moving average is $42.27. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $132.59 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. Intel has a 12-month low of $26.85 and a 12-month high of $51.28.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.59%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is 52.08%.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTC. CX Institutional boosted its position in Intel by 13.4% during the third quarter. CX Institutional now owns 20,985 shares of the chip maker’s stock valued at $746,000 after purchasing an additional 2,474 shares during the last quarter. Simplicity Solutions LLC grew its stake in shares of Intel by 45.5% in the third quarter. Simplicity Solutions LLC now owns 111,005 shares of the chip maker’s stock valued at $3,946,000 after buying an additional 34,739 shares in the last quarter. Connecticut Wealth Management LLC increased its holdings in Intel by 7.3% during the third quarter. Connecticut Wealth Management LLC now owns 12,751 shares of the chip maker’s stock worth $453,000 after buying an additional 872 shares during the last quarter. Ballentine Partners LLC raised its position in Intel by 5.6% during the third quarter. Ballentine Partners LLC now owns 53,308 shares of the chip maker’s stock worth $1,895,000 after acquiring an additional 2,806 shares in the last quarter. Finally, TFG Advisers LLC lifted its stake in Intel by 2.8% in the third quarter. TFG Advisers LLC now owns 14,521 shares of the chip maker’s stock valued at $516,000 after acquiring an additional 391 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

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.