Intel (NASDAQ:INTC) Shares Down 2.5%

Shares of Intel Co. (NASDAQ:INTC) were down 2.5% during trading on Wednesday . The company traded as low as $29.81 and last traded at $29.90. Approximately 15,074,300 shares traded hands during trading, a decline of 69% from the average daily volume of 48,012,945 shares. The stock had previously closed at $30.68.

Analysts Set New Price Targets

INTC has been the subject of several recent analyst reports. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 target price on shares of Intel in a report on Wednesday, April 3rd. TD Cowen lowered their price objective on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Barclays decreased their target price on Intel from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, HSBC dropped their price target on Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and an average target price of $39.75.

Intel Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The stock’s 50-day simple moving average is $39.12 and its two-hundred day simple moving average is $42.05. The stock has a market cap of $127.71 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 10.05 and a beta of 1.09.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.67%. Intel’s dividend payout ratio is presently 52.08%.

Insider Buying and Selling at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 4,100 shares of Intel stock in a transaction dated Wednesday, May 1st. The stock was bought at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the transaction, the chief executive officer now owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger purchased 4,100 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the completion of the purchase, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick P. Gelsinger bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average price of $31.42 per share, with a total value of $125,680.00. Following the completion of the purchase, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several large investors have recently modified their holdings of the stock. Barrett & Company Inc. boosted its holdings in shares of Intel by 6.1% in the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after purchasing an additional 210 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Intel by 3.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,397 shares of the chip maker’s stock worth $372,000 after buying an additional 216 shares in the last quarter. New Millennium Group LLC grew its position in Intel by 87.2% during the fourth 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 during the last quarter. Waldron Private Wealth LLC raised its stake in shares of Intel by 0.6% during the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock worth $2,063,000 after acquiring an additional 232 shares in the last quarter. Finally, Spreng Capital Management Inc. raised its stake in shares of Intel by 1.3% during the fourth quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after acquiring an additional 246 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.