UBS Group Cuts Intel (NASDAQ:INTC) Price Target to $32.00

Intel (NASDAQ:INTC) had its price objective reduced by UBS Group from $37.00 to $32.00 in a research report released on Friday morning, Benzinga reports. UBS Group currently has a neutral rating on the chip maker’s stock.

A number of other analysts have also recently weighed in on INTC. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Intel from $38.00 to $27.00 and set a hold rating for the company in a research report on Friday. Bank of America lowered shares of Intel from a neutral rating to an underperform rating and decreased their price objective for the stock from $35.00 to $23.00 in a research note on Friday. Raymond James lowered shares of Intel from an outperform rating to a market perform rating in a research note on Friday. Susquehanna decreased their target price on shares of Intel from $35.00 to $26.00 and set a neutral rating on the stock in a research report on Friday. Finally, New Street Research downgraded shares of Intel from a buy rating to a neutral rating in a research report on Friday. Five research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and two have 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 target price of $32.92.

Intel Price Performance

Shares of Intel stock traded down $1.37 on Friday, hitting $20.11. 147,145,630 shares of the company were exchanged, compared to its average volume of 50,681,496. The stock has a market capitalization of $85.61 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. Intel has a 1-year low of $19.29 and a 1-year high of $51.28. The company has a 50-day moving average price of $31.35 and a 200 day moving average price of $36.71.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.82% and a net margin of 1.77%. The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the prior year, the company posted ($0.05) EPS. The firm’s revenue was down .8% compared to the same quarter last year. As a group, sell-side 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. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.49%. Intel’s dividend payout ratio is currently 52.08%.

Hedge Funds Weigh In On Intel

A number of institutional investors and hedge funds have recently bought and sold shares of INTC. Barrett & Company Inc. increased its stake in shares of Intel by 6.1% in the 4th quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock valued at $184,000 after purchasing an additional 210 shares during the last quarter. Waldron Private Wealth LLC lifted its stake in Intel by 0.6% in the fourth quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after purchasing an additional 232 shares during the last quarter. Valley National Advisers Inc. lifted its position in shares of Intel by 4.3% during the fourth quarter. Valley National Advisers Inc. now owns 5,974 shares of the chip maker’s stock worth $300,000 after acquiring an additional 246 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its position in shares of Intel by 1.1% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 22,179 shares of the chip maker’s stock worth $1,114,000 after acquiring an additional 247 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its stake in Intel by 4.5% during the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after buying an additional 247 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.