Intel (NASDAQ:INTC) PT Lowered to $42.00 at Northland Securities

Intel (NASDAQ:INTC) had its price objective cut by Northland Securities from $68.00 to $42.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the chip maker’s stock.

Several other brokerages also recently issued reports on INTC. New Street Research downgraded shares of Intel from a buy rating to a neutral rating in a report on Friday. Evercore ISI reduced their price objective on shares of Intel from $40.00 to $36.00 and set an in-line rating on the stock in a research note on Friday, April 26th. Mizuho reduced their price objective on shares of Intel from $55.00 to $45.00 and set a buy rating on the stock in a research note on Friday, April 26th. Wolfe Research raised shares of Intel from an underperform rating to a peer perform rating in a research note on Thursday, May 16th. Finally, Barclays reduced their price objective on shares of Intel from $40.00 to $25.00 and set an equal weight rating on the stock in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Intel currently has a consensus rating of Hold and a consensus price target of $32.92.

Intel Price Performance

INTC stock traded down $1.37 during trading on Friday, reaching $20.11. 147,145,630 shares of the company were exchanged, compared to its average volume of 50,681,496. The company has a market cap of $85.61 billion, a P/E ratio of 20.65, a PEG ratio of 17.38 and a beta of 1.05. Intel has a 52-week low of $19.29 and a 52-week high of $51.28. The stock’s 50 day moving average price is $31.35 and its 200 day moving average price is $36.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (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 1.82%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, analysts predict that Intel will post 0.07 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Hedge Funds Weigh In On Intel

Several institutional investors and hedge funds have recently made changes to their positions in INTC. Burkett Financial Services LLC acquired a new stake in shares of Intel during the 4th quarter valued at approximately $27,000. Frazier Financial Advisors LLC acquired a new stake in Intel in the fourth quarter worth $27,000. Tributary Capital Management LLC acquired a new stake in Intel in the first quarter worth $27,000. Signature Resources Capital Management LLC acquired a new stake in Intel in the fourth quarter worth $37,000. Finally, Bare Financial Services Inc acquired a new stake in Intel in the fourth quarter worth $39,000. 64.53% of the stock is currently owned by hedge funds and other 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.