Intel (NASDAQ:INTC) Given New $40.00 Price Target at Citigroup

Intel (NASDAQ:INTC) had its target price cut by Citigroup from $47.50 to $40.00 in a report released on Monday, Marketbeat reports. They currently have a neutral rating on the chip maker’s stock.

Other equities analysts also recently issued reports about the company. Morgan Stanley lifted their target price on Intel from $39.00 to $48.00 and gave the company an equal weight rating in a research note on Monday, January 29th. Benchmark restated a buy rating and issued a $62.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Truist Financial restated a hold rating and issued a $45.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Susquehanna reiterated a neutral rating and set a $42.00 price objective on shares of Intel in a research report on Thursday, April 4th. Finally, HSBC reduced their price objective on Intel from $46.00 to $44.00 and set a hold rating for the company in a research report on Friday, January 26th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $42.69.

Intel Stock Up 1.7 %

Shares of Intel stock opened at $36.31 on Monday. 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 firm has a market cap of $153.52 billion, a P/E ratio of 93.10, a P/E/G ratio of 3.16 and a beta of 1.00. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The business has a 50-day moving average price of $42.45 and a 200 day moving average price of $42.39.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share 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 during the quarter, compared to analyst estimates of $15.16 billion. During the same period in the previous year, the company earned $0.10 earnings per share. Intel’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that Intel will post 0.62 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.38%. Intel’s dividend payout ratio is currently 128.21%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the acquisition, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the business’s stock in a transaction 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 purchase, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger bought 2,800 shares of the business’s stock in a transaction 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 completion of the purchase, the chief executive officer now owns 31,275 shares in the company, valued at $1,336,693.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Intel

Large investors have recently added to or reduced their stakes in the company. New Millennium Group LLC grew its holdings 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 acquiring an additional 231 shares in the last quarter. Cornerstone Planning Group LLC purchased a new position in shares of Intel during the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC purchased a new position in shares of Intel during the 4th quarter valued at $27,000. Burkett Financial Services LLC purchased a new position in shares of Intel during the 4th quarter valued at $27,000. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Intel during the 4th quarter valued at $27,000. 64.53% of the stock is owned by institutional investors and hedge funds.

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.