Intel (NASDAQ:INTC) Price Target Cut to $45.00

Intel (NASDAQ:INTC) had its price objective lowered by Mizuho from $55.00 to $45.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the chip maker’s stock.

Several other analysts have also weighed in on the stock. Stifel Nicolaus reiterated a hold rating and issued a $45.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Morgan Stanley upped their price objective on shares of Intel from $39.00 to $48.00 and gave the company an equal weight rating in a report on Monday, January 29th. Citigroup cut their price objective on shares of Intel from $47.50 to $40.00 and set a neutral rating on the stock in a research report on Monday, April 15th. Needham & Company LLC reaffirmed a hold rating on shares of Intel in a research report on Friday, January 26th. Finally, Susquehanna cut their price target on Intel from $42.00 to $40.00 and set a neutral rating on the stock in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $39.75.

Intel Stock Down 1.6 %

Shares of NASDAQ INTC opened at $31.36 on Friday. The company’s 50 day moving average price is $40.63 and its 200-day moving average price is $42.27. 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 company has a market capitalization of $132.59 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00.

Intel Dividend Announcement

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

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction dated Thursday, February 1st. The shares were bought 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

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