Truist Financial Trims Intel (NASDAQ:INTC) Target Price to $25.00

Intel (NASDAQ:INTC) had its price objective cut by Truist Financial from $33.00 to $25.00 in a report published on Friday morning, Benzinga reports. They currently have a hold rating on the chip maker’s stock.

INTC has been the topic of a number of other reports. Benchmark downgraded shares of Intel from a buy rating to a hold rating in a report on Friday. StockNews.com upgraded Intel from a sell rating to a hold rating in a research note on Thursday, August 1st. Wolfe Research raised Intel from an underperform rating to a peer perform rating in a report on Thursday, May 16th. JPMorgan Chase & Co. decreased their price objective on Intel from $35.00 to $26.00 and set an underweight rating on the stock in a report on Friday. Finally, Wells Fargo & Company decreased their target price on shares of Intel from $43.00 to $38.00 and set an equal weight rating on the stock in a research note on Friday, April 26th. Five analysts have rated the stock with a sell rating, twenty-three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Intel presently has an average rating of Hold and a consensus price target of $32.92.

Intel Stock Performance

Shares of Intel stock traded down $0.28 on Friday, reaching $19.83. 102,369,355 shares of the stock were exchanged, compared to its average volume of 50,954,605. The business has a 50 day moving average price of $31.14 and a two-hundred day moving average price of $36.52. The firm has a market capitalization of $84.42 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 17.38 and a beta of 1.05. Intel has a twelve month low of $19.29 and a twelve month high of $51.28. 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 (NASDAQ:INTC) last released 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 net margin of 1.77% and a return on equity of 1.82%. The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the business posted ($0.05) EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. Analysts anticipate that Intel will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.52%. The ex-dividend date is Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Institutional Investors Weigh In On Intel

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