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

Intel (NASDAQ:INTC) had its target price cut by TD Cowen from $42.00 to $35.00 in a research note released on Friday, MarketBeat reports. They currently have a hold rating on the chip maker’s stock.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group upped their price target on Intel from $34.00 to $39.00 and gave the stock a sell rating in a research report on Friday, January 26th. Mizuho reduced their price target on Intel from $58.00 to $55.00 and set a buy rating on the stock in a research report on Friday, January 26th. Wedbush reaffirmed a neutral rating and set a $40.00 price target on shares of Intel in a research report on Wednesday, April 17th. Needham & Company LLC reaffirmed a hold rating on shares of Intel in a research report on Friday, January 26th. Finally, HSBC dropped their price objective on shares of Intel from $44.00 to $37.00 and set a hold rating on the stock in a report on Tuesday. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Intel currently has an average rating of Hold and an average price target of $39.75.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $31.88 on Friday. The company has a market capitalization of $134.79 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 3.19 and a beta of 1.00. Intel has a 52 week low of $26.85 and a 52 week high of $51.28. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $40.88 and a 200 day moving average of $42.23.

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

Intel Announces Dividend

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

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares in the company, valued at $1,336,693.50. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was acquired at an average price of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Hedge funds have recently bought and sold shares of the business. Barrett & Company Inc. increased its holdings in shares of Intel by 6.1% during the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after buying an additional 210 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Intel by 3.0% during the 4th 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 during the last quarter. New Millennium Group LLC increased its holdings 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 worth $25,000 after buying an additional 231 shares during the last quarter. Waldron Private Wealth LLC boosted its position in shares of Intel by 0.6% during the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock worth $2,063,000 after purchasing an additional 232 shares during the period. Finally, Spreng Capital Management Inc. boosted its position in shares of Intel by 1.3% during the 4th quarter. Spreng Capital Management Inc. now owns 19,644 shares of the chip maker’s stock worth $987,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Company Profile

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.