Intel (NASDAQ:INTC) Price Target Cut to $38.00 by Analysts at Wells Fargo & Company

Intel (NASDAQ:INTC - Free Report) had its target price lowered by Wells Fargo & Company from $43.00 to $38.00 in a research note issued to investors on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the chip maker's stock.

A number of other equities analysts also recently issued reports on the company. Roth Mkm lowered their price objective on Intel from $45.00 to $35.00 and set a neutral rating for the company in a research report on Friday. Raymond James lowered their target price on Intel from $54.00 to $52.00 and set an outperform rating for the company in a report on Friday, January 26th. Needham & Company LLC reiterated a hold rating on shares of Intel in a report on Friday. TD Cowen lowered their target price on Intel from $42.00 to $35.00 and set a hold rating for the company in a report on Friday. Finally, Truist Financial lowered their target price on Intel from $45.00 to $33.00 and set a hold rating for the company in a report on Friday. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $39.75.

Intel Trading Down 9.2 %

Intel stock traded down $3.23 during trading hours on Friday, hitting $31.88. The stock had a trading volume of 119,590,954 shares, compared to its average volume of 48,144,715. 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 stock has a market cap of $134.79 billion, a price-to-earnings ratio of 81.75, a P/E/G ratio of 3.13 and a beta of 1.00. Intel has a one year low of $26.85 and a one year high of $51.28. The business's 50 day simple moving average is $40.88 and its 200-day simple moving average is $42.23.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. During the same period last year, the company earned $0.10 earnings per share. The firm's revenue was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Intel will post 0.6 EPS for the current fiscal year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Monday, May 6th. Intel's dividend payout ratio (DPR) is currently 128.21%.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of the firm's stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 price of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares of the company's stock, valued at $1,336,693.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger bought 3,000 shares of Intel stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of INTC. Norges Bank purchased a new position in shares of Intel during the fourth quarter worth about $2,424,202,000. Price T Rowe Associates Inc. MD lifted its position in Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker's stock worth $1,878,572,000 after buying an additional 31,575,084 shares during the last quarter. California Public Employees Retirement System lifted its position in Intel by 102.6% in the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker's stock worth $807,757,000 after buying an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Intel by 18.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker's stock worth $1,376,520,000 after buying an additional 6,064,950 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Intel by 17.8% in the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker's stock worth $1,228,752,000 after buying an additional 5,217,549 shares during the last quarter. Hedge funds and other institutional investors 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.