Intel (NASDAQ:INTC) Price Target Cut to $21.00

Intel (NASDAQ:INTC) had its price target reduced by The Goldman Sachs Group from $22.00 to $21.00 in a research note issued to investors on Thursday, MarketBeat reports. They currently have a sell rating on the chip maker’s stock.

Several other research analysts have also recently weighed in on INTC. Cantor Fitzgerald lowered their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wedbush dropped their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Northland Securities cut their price target on shares of Intel from $68.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Susquehanna decreased their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley cut their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $31.92.

Intel Stock Performance

INTC opened at $22.77 on Thursday. Intel has a twelve month low of $18.51 and a twelve month high of $51.28. The firm has a market capitalization of $96.93 billion, a PE ratio of 23.72 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $21.40 and its 200 day moving average price is $27.94.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts expect that Intel will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Intel

Institutional investors have recently bought and sold shares of the business. America First Investment Advisors LLC purchased a new position in Intel in the second quarter valued at approximately $25,000. Tributary Capital Management LLC acquired a new stake in Intel during the 1st quarter worth $27,000. Cyrus J. Lawrence LLC purchased a new stake in Intel in the second quarter valued at $27,000. Spartan Fund Management Inc. acquired a new position in Intel in the second quarter valued at $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Intel during the second quarter worth about $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

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.