Intel Co. (NASDAQ:INTC – Get Free Report) fell 1.4% on Tuesday after Wells Fargo & Company lowered their price target on the stock from $48.00 to $43.00. Wells Fargo & Company currently has an equal weight rating on the stock. Intel traded as low as $37.40 and last traded at $37.44. 16,646,815 shares changed hands during trading, a decline of 64% from the average session volume of 45,744,809 shares. The stock had previously closed at $37.98.
A number of other equities research analysts have also weighed in on INTC. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Intel in a report on Wednesday, April 3rd. Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $32.00 to $50.00 in a research report on Friday, December 15th. Barclays upped their price objective on shares of Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Mizuho reduced their price objective on shares of Intel from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Four investment 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, the company presently has a consensus rating of “Hold” and a consensus target price of $42.69.
Insider Buying and Selling
In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost 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 in the company, valued at $1,336,693.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The shares were acquired at an average cost 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is owned by insiders.
Institutional Trading of Intel
Institutional investors and hedge funds have recently made changes to their positions in the stock. New Millennium Group LLC raised its position 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 valued at $25,000 after buying an additional 231 shares in the last quarter. Cornerstone Planning Group LLC purchased a new stake in shares of Intel during the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of Intel during the 4th quarter valued at $27,000. Burkett Financial Services LLC purchased a new position in Intel in the 4th quarter worth $27,000. Finally, Hanseatic Management Services Inc. bought a new stake in Intel in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.
Intel Price Performance
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 firm has a market capitalization of $162.06 billion, a P/E ratio of 96.00, a P/E/G ratio of 3.31 and a beta of 1.00. The firm’s 50 day simple moving average is $43.05 and its two-hundred day simple moving average is $42.30.
Intel (NASDAQ:INTC – Get Free Report) last posted 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. The business had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, analysts predict that Intel Co. will post 0.64 earnings per share for the current year.
Intel Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, February 6th. Intel’s dividend payout ratio is presently 128.21%.
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.