JPMorgan Chase & Co. Cuts Intel (NASDAQ:INTC) Price Target to $35.00

Intel (NASDAQ:INTC) had its price target trimmed by JPMorgan Chase & Co. from $37.00 to $35.00 in a research report report published on Friday, Benzinga reports. The firm currently has an underweight rating on the chip maker’s stock.

Other equities research analysts have also issued research reports about the company. Citigroup cut their target price on Intel from $47.50 to $40.00 and set a neutral rating on the stock in a research report on Monday, April 15th. Truist Financial restated a hold rating and set a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Morgan Stanley upped their target price on Intel from $39.00 to $48.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Barclays increased their price target on Intel from $32.00 to $44.00 and gave the stock an equal weight rating in a report on Tuesday, January 16th. Finally, HSBC cut their price target on Intel from $44.00 to $37.00 and set a hold rating on the stock in a report on Tuesday, April 23rd. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $39.75.

Intel Stock Down 1.6 %

Shares of Intel stock opened at $31.36 on Friday. Intel has a one year low of $26.85 and a one year 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’s 50-day moving average is $40.63 and its 200 day moving average is $42.27. The firm has a market cap of $132.59 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 2.89 and a beta of 1.00.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.59%. Intel’s payout ratio is presently 52.08%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the completion of the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Intel by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 385,787,907 shares of the chip maker’s stock valued at $19,385,842,000 after purchasing an additional 4,678,169 shares during the period. Capital International Investors raised its stake in shares of Intel by 0.3% during the 4th quarter. Capital International Investors now owns 96,617,951 shares of the chip maker’s stock valued at $4,855,099,000 after purchasing an additional 318,495 shares during the period. Primecap Management Co. CA raised its stake in shares of Intel by 0.6% during the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after purchasing an additional 475,636 shares during the period. Norges Bank bought a new stake in shares of Intel during the 4th quarter valued at $2,424,202,000. Finally, Northern Trust Corp raised its stake in shares of Intel by 3.7% during the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after purchasing an additional 1,626,127 shares during the period. 64.53% of the stock is currently owned by institutional investors.

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.