Susquehanna Cuts Intel (NASDAQ:INTC) Price Target to $35.00

Intel (NASDAQ:INTC) had its target price decreased by Susquehanna from $40.00 to $35.00 in a research report report published on Friday, Benzinga reports. Susquehanna currently has a neutral rating on the chip maker’s stock.

Several other research analysts have also commented on the stock. Sanford C. Bernstein dropped their price objective on shares of Intel from $42.00 to $35.00 and set a market perform rating for the company in a research note on Friday. Wells Fargo & Company dropped their price objective on shares of Intel from $48.00 to $43.00 and set an equal weight rating for the company in a research note on Tuesday, April 9th. Bank of America dropped their price objective on shares of Intel from $50.00 to $44.00 and set a neutral rating for the company in a research note on Friday, April 12th. The Goldman Sachs Group dropped their price objective on shares of Intel from $39.00 to $34.00 and set a sell rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Intel from $37.00 to $35.00 and set an underweight rating for the company in a research note on Friday. Four 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 data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $39.75.

Intel Trading Down 9.2 %

INTC stock opened at $31.88 on Friday. The firm has a fifty day moving average price of $40.88 and a 200 day moving average price of $42.23. Intel has a fifty-two week low of $26.85 and a fifty-two week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54. The firm has a market cap of $134.79 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. Intel’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 earnings per share. Sell-side analysts anticipate that Intel will post 0.6 earnings per share for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. Intel’s dividend payout ratio is presently 52.08%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, for a total transaction 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 approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, for a total transaction 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 approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the purchase, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intel

A number of large investors have recently modified their holdings of the business. New Millennium Group LLC boosted its position in Intel by 87.2% in the fourth 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 last quarter. Frazier Financial Advisors LLC purchased a new stake in Intel in the 4th quarter worth approximately $27,000. Burkett Financial Services LLC purchased a new stake in Intel in the 4th quarter worth approximately $27,000. Tributary Capital Management LLC purchased a new stake in Intel in the 1st quarter worth approximately $27,000. Finally, Legacy Financial Group LLC purchased a new stake in Intel in the 3rd quarter worth approximately $30,000. Hedge funds and other 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.