Intel (NASDAQ:INTC) Given New $35.00 Price Target at Sanford C. Bernstein

Intel (NASDAQ:INTC) had its target price decreased by Sanford C. Bernstein from $42.00 to $35.00 in a report issued on Friday morning, Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the chip maker’s stock.

A number of other research analysts also recently issued reports on INTC. Susquehanna dropped their price objective on Intel from $42.00 to $40.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Barclays raised their price target on shares of Intel from $32.00 to $44.00 and gave the stock an equal weight rating in a report on Tuesday, January 16th. UBS Group upped their price objective on shares of Intel from $46.00 to $50.00 and gave the company a neutral rating in a report on Monday, April 1st. Needham & Company LLC reaffirmed a hold rating on shares of Intel in a research report on Friday. Finally, Benchmark reiterated a buy rating and issued a $62.00 price target on shares of Intel in a report on Wednesday, April 3rd. Four equities research 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. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $39.75.

Intel Trading Down 1.6 %

NASDAQ:INTC opened at $31.36 on Friday. The firm has a market cap of $132.59 billion, a P/E ratio of 32.67, a P/E/G ratio of 2.89 and a beta of 1.00. 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 52 week low of $26.85 and a 52 week high of $51.28. The firm’s fifty day moving average is $40.63 and its 200-day moving average is $42.27.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued 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 dividend payout ratio (DPR) is currently 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of hedge funds and other institutional investors have recently made changes to their positions in INTC. Hazlett Burt & Watson Inc. grew its holdings in Intel by 8.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 11,463 shares of the chip maker’s stock valued at $506,000 after buying an additional 846 shares in the last quarter. OFI Invest Asset Management boosted its position in shares of Intel by 91.8% in the first quarter. OFI Invest Asset Management now owns 103,896 shares of the chip maker’s stock valued at $4,417,000 after acquiring an additional 49,725 shares during the period. Renaissance Investment Group LLC grew its stake in Intel by 10.9% during the first quarter. Renaissance Investment Group LLC now owns 11,370 shares of the chip maker’s stock valued at $502,000 after acquiring an additional 1,120 shares in the last quarter. Stock Yards Bank & Trust Co. increased its holdings in Intel by 8.1% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 97,700 shares of the chip maker’s stock worth $4,315,000 after acquiring an additional 7,306 shares during the period. Finally, Boyd Watterson Asset Management LLC OH lifted its stake in Intel by 2.8% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 47,401 shares of the chip maker’s stock worth $2,094,000 after purchasing an additional 1,313 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

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.