Intel (NASDAQ:INTC) Price Target Lowered to $25.00 at Truist Financial

Intel (NASDAQ:INTC) had its price target trimmed by Truist Financial from $33.00 to $25.00 in a report published on Friday morning, Benzinga reports. The firm currently has a hold rating on the chip maker’s stock.

INTC has been the topic of a number of other research reports. Sanford C. Bernstein cut their price objective on shares of Intel from $42.00 to $35.00 and set a market perform rating on the stock in a research report on Friday, April 26th. Jefferies Financial Group started coverage on shares of Intel in a research report on Monday, May 13th. They issued a hold rating and a $34.00 price objective on the stock. Wolfe Research raised shares of Intel from an underperform rating to a peer perform rating in a research report on Thursday, May 16th. Needham & Company LLC reissued a hold rating on shares of Intel in a research report on Friday, April 26th. Finally, Barclays cut their price objective on shares of Intel from $44.00 to $40.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Five research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Intel presently has an average rating of Hold and a consensus target price of $33.41.

Intel Stock Down 26.1 %

Shares of Intel stock traded down $7.57 on Friday, hitting $21.48. The company had a trading volume of 300,895,920 shares, compared to its average volume of 60,137,096. The firm has a market capitalization of $91.44 billion, a P/E ratio of 22.38, a P/E/G ratio of 17.38 and a beta of 1.05. Intel has a twelve month low of $20.42 and a twelve month high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a 50-day moving average of $31.35 and a 200-day moving average of $36.85.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.33%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently modified their holdings of INTC. Norges Bank acquired a new position in shares of Intel in the fourth quarter valued at about $2,424,202,000. Price T Rowe Associates Inc. MD grew its stake in shares of Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after acquiring an additional 31,575,084 shares in the last quarter. Capital International Investors grew its stake in shares of Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after acquiring an additional 13,035,566 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Intel by 102.6% during the fourth 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 in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.