Barclays Trims Intel (NASDAQ:INTC) Target Price to $40.00

Intel (NASDAQ:INTC) had its target price lowered by Barclays from $44.00 to $40.00 in a research report sent to investors on Friday, Benzinga reports. Barclays currently has an equal weight rating on the chip maker’s stock.

Several other research firms have also recently commented on INTC. Stifel Nicolaus restated a hold rating and issued a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Citigroup lowered their target price on Intel from $47.50 to $40.00 and set a neutral rating on the stock in a research report on Monday, April 15th. UBS Group increased their price target on Intel from $46.00 to $50.00 and gave the stock a neutral rating in a research note on Monday, April 1st. Bank of America cut their price objective on shares of Intel from $50.00 to $44.00 and set a neutral rating on the stock in a research note on Friday, April 12th. Finally, Wedbush reiterated a neutral rating and issued a $40.00 target price on shares of Intel in a research report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $39.75.

Intel Stock Performance

Shares of INTC opened at $31.36 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel has a 1 year low of $26.85 and a 1 year high of $51.28. The firm has a fifty day moving average of $40.63 and a 200-day moving average of $42.27. The company has a market cap of $132.59 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00.

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 issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.59%. Intel’s payout ratio is currently 52.08%.

Insider Activity

In other Intel 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intel

A number of large investors have recently made changes to their positions in the business. New Millennium Group LLC boosted its stake 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 during the period. Burkett Financial Services LLC purchased a new stake in shares of Intel during the fourth quarter worth $27,000. Frazier Financial Advisors LLC acquired a new stake in Intel during the fourth quarter valued at $27,000. Tributary Capital Management LLC purchased a new position in Intel in the first quarter valued at about $27,000. Finally, Valued Wealth Advisors LLC acquired a new position in Intel in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

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.