Evercore ISI Begins Coverage on Intel (NASDAQ:INTC)

Evercore ISI started coverage on shares of Intel (NASDAQ:INTC) in a research note published on Tuesday, Marketbeat.com reports. The brokerage issued an in-line rating and a $40.00 target price on the chip maker’s stock.

Several other analysts also recently issued reports on the stock. Wedbush reaffirmed a neutral rating and issued a $40.00 price target on shares of Intel in a report on Wednesday, April 3rd. Susquehanna reaffirmed a neutral rating and issued a $42.00 price target on shares of Intel in a report on Thursday, April 4th. Citigroup reduced their price target on shares of Intel from $47.50 to $40.00 and set a neutral rating on the stock in a report on Monday, April 15th. The Goldman Sachs Group boosted their price objective on shares of Intel from $34.00 to $39.00 and gave the company a sell rating in a research report on Friday, January 26th. Finally, Morgan Stanley boosted their price objective on shares of Intel from $39.00 to $48.00 and gave the company an equal weight rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $42.62.

Intel Stock Down 2.4 %

INTC stock opened at $34.20 on Tuesday. The company has a market cap of $144.60 billion, a P/E ratio of 87.69, a P/E/G ratio of 3.20 and a beta of 1.00. Intel has a 52 week low of $26.85 and a 52 week high of $51.28. The company’s 50-day moving average price is $41.85 and its 200 day moving average price is $42.29. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Intel had a net margin of 3.11% and a return on equity of 1.64%. The firm had revenue of $15.40 billion for the quarter, compared to the consensus estimate of $15.16 billion. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that Intel will post 0.61 earnings per share for the current fiscal year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Tuesday, February 6th. Intel’s payout ratio is currently 128.21%.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the transaction, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the transaction, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Intel by 1.2% in the fourth 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. State Street Corp boosted its stake in shares of Intel by 0.8% in the first quarter. State Street Corp now owns 179,319,417 shares of the chip maker’s stock valued at $5,858,347,000 after purchasing an additional 1,447,881 shares during the period. Capital International Investors boosted its stake in shares of Intel by 0.3% in the fourth 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 boosted its stake in shares of Intel by 0.6% in the fourth 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. Finally, Morgan Stanley boosted its stake in shares of Intel by 29.8% in the fourth quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock valued at $1,409,835,000 after purchasing an additional 12,241,200 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Company Profile

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.