Susquehanna upgraded shares of Intel (NASDAQ:INTC – Get Rating) from a negative rating to a neutral rating in a report published on Thursday, MarketBeat.com reports. They currently have $26.00 price objective on the chip maker’s stock, up from their previous price objective of $23.00.
A number of other equities analysts have also commented on INTC. Bank of America reduced their price objective on Intel from $28.00 to $25.00 and set an underperform rating on the stock in a research note on Friday, January 27th. Barclays reduced their price objective on Intel from $30.00 to $27.00 and set an equal weight rating on the stock in a research note on Friday, January 27th. Wedbush reissued an underperform rating and issued a $20.00 price objective (down previously from $23.00) on shares of Intel in a research note on Monday, January 23rd. Cowen reduced their price objective on Intel from $31.00 to $26.00 and set a market perform rating on the stock in a research note on Friday, January 27th. Finally, JPMorgan Chase & Co. set a $28.00 target price on Intel in a research report on Wednesday, February 22nd. Eight equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $29.38.
Intel Price Performance
Shares of INTC stock opened at $29.81 on Thursday. The stock’s fifty day simple moving average is $28.09 and its 200 day simple moving average is $28.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.57 and a quick ratio of 1.16. The firm has a market cap of $123.32 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 9.52 and a beta of 0.81. Intel has a one year low of $24.59 and a one year high of $52.51.
Intel Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Sunday, May 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.50 dividend on an annualized basis and a yield of 1.68%. Intel’s payout ratio is 74.49%.
Insider Buying and Selling at Intel
In other Intel news, CFO David Zinsner bought 1,800 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was purchased at an average cost of $27.89 per share, with a total value of $50,202.00. Following the completion of the purchase, the chief financial officer now owns 17,450 shares in the company, valued at $486,680.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intel news, CFO David Zinsner bought 1,800 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was purchased at an average cost of $27.89 per share, with a total value of $50,202.00. Following the completion of the purchase, the chief financial officer now owns 17,450 shares in the company, valued at $486,680.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Patrick P. Gelsinger bought 9,700 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was acquired at an average cost of $25.68 per share, with a total value of $249,096.00. Following the completion of the purchase, the chief executive officer now owns 18,700 shares of the company’s stock, valued at approximately $480,216. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 20,500 shares of company stock valued at $549,768. Company insiders own 0.02% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of INTC. Cantor Fitzgerald Investment Advisor L.P boosted its position in shares of Intel by 173.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock worth $26,761,000 after buying an additional 342,649 shares during the period. Axiom Financial Strategies LLC boosted its position in shares of Intel by 21.6% during the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock worth $260,000 after buying an additional 1,056 shares during the period. Fairfield Bush & CO. acquired a new position in shares of Intel during the first quarter worth about $142,000. Retirement Income Solutions Inc boosted its position in shares of Intel by 5.1% during the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock worth $314,000 after buying an additional 307 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Intel by 26.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock worth $290,593,000 after buying an additional 1,244,247 shares during the period. 59.48% of the stock is owned by institutional investors and hedge funds.
About Intel
Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.
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