Intel (NASDAQ:INTC) Price Target Lowered to $21.00 at The Goldman Sachs Group

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, Benzinga reports. They currently have a sell rating on the chip maker’s stock.

Several other equities research analysts have also recently issued reports on the company. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. UBS Group reduced their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Barclays reduced their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com cut Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.92.

Intel Price Performance

NASDAQ INTC opened at $22.44 on Thursday. The company has a market capitalization of $95.53 billion, a PE ratio of 23.38 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The business’s fifty day moving average is $21.34 and its 200 day moving average is $28.29. Intel has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. Intel’s revenue was down .8% on a year-over-year basis. Sell-side analysts predict that Intel will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.23%. Intel’s payout ratio is 52.08%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is owned by company insiders.

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently made changes to their positions in INTC. William B. Walkup & Associates Inc. acquired a new position in shares of Intel in the 2nd quarter valued at $2,178,000. Private Advisory Group LLC acquired a new position in shares of Intel in the 3rd quarter valued at $8,045,000. Brookstone Capital Management grew its position in Intel by 65.2% during the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after purchasing an additional 27,274 shares during the period. Sanibel Captiva Trust Company Inc. grew its position in Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after purchasing an additional 48,765 shares during the period. Finally, Czech National Bank grew its position in Intel by 7.2% during the 3rd quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock worth $20,392,000 after purchasing an additional 58,021 shares during the period. 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.