Wells Fargo & Company Trims Intel (NASDAQ:INTC) Target Price to $38.00

Intel (NASDAQ:INTC) had its price target lowered by Wells Fargo & Company from $43.00 to $38.00 in a report published on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the chip maker’s stock.

Other research analysts have also issued reports about the stock. Barclays decreased their price target on shares of Intel from $44.00 to $40.00 and set an equal weight rating on the stock in a research note on Friday. JPMorgan Chase & Co. dropped their target price on shares of Intel from $37.00 to $35.00 and set an underweight rating for the company in a report on Friday. Raymond James dropped their target price on shares of Intel from $54.00 to $52.00 and set an outperform rating for the company in a report on Friday, January 26th. Mizuho dropped their price target on shares of Intel from $55.00 to $45.00 and set a buy rating for the company in a research note on Friday. Finally, TD Cowen dropped their price target on shares of Intel from $42.00 to $35.00 and set a hold rating for the company in a research note on Friday. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $39.75.

Intel Price Performance

NASDAQ:INTC opened at $31.88 on Friday. Intel has a 52 week low of $26.85 and a 52 week high of $51.28. 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 capitalization of $134.79 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.00. The stock’s 50-day moving average price is $40.88 and its 200-day moving average price is $42.30.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. Intel’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $0.10 EPS. As a group, equities analysts expect that Intel will post 0.6 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the purchase, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently modified their holdings of INTC. Slow Capital Inc. raised its stake in shares of Intel by 0.9% in the 4th quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock valued at $2,749,000 after acquiring an additional 508 shares during the period. Altus Wealth Group LLC lifted its position in shares of Intel by 29.4% in the 4th quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock worth $1,272,000 after buying an additional 5,759 shares during the last quarter. Alera Investment Advisors LLC bought a new position in shares of Intel in the 4th quarter worth about $201,000. Callan Capital LLC lifted its position in Intel by 9.1% in the 4th quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after purchasing an additional 1,474 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors lifted its position in Intel by 1.3% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 45,368 shares of the chip maker’s stock valued at $1,613,000 after purchasing an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

About Intel

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.