Intel (NASDAQ:INTC) Shares Down 1.1%

Intel Co. (NASDAQ:INTC) shares traded down 1.1% on Wednesday . The company traded as low as $30.02 and last traded at $30.14. 15,654,682 shares changed hands during trading, a decline of 67% from the average session volume of 48,144,047 shares. The stock had previously closed at $30.47.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Friday, April 26th. HSBC cut their price objective on shares of Intel from $44.00 to $37.00 and set a “hold” rating on the stock in a research report on Tuesday, April 23rd. TD Cowen dropped their target price on shares of Intel from $42.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. UBS Group boosted their target price on shares of Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $45.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $39.75.

Intel Price Performance

The firm has a market cap of $128.94 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 3.31 and a beta of 1.00. The stock’s fifty day moving average price is $40.35 and its 200-day moving average price is $42.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Monday, May 6th. Intel’s payout ratio is 52.08%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the completion of the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Accurate Wealth Management LLC grew its holdings in shares of Intel by 19.1% in the third quarter. Accurate Wealth Management LLC now owns 7,331 shares of the chip maker’s stock valued at $264,000 after purchasing an additional 1,176 shares in the last quarter. Vicus Capital grew its holdings in shares of Intel by 65.4% in the third quarter. Vicus Capital now owns 14,761 shares of the chip maker’s stock valued at $525,000 after purchasing an additional 5,837 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Intel by 5.3% in the third quarter. Pinnacle Associates Ltd. now owns 362,811 shares of the chip maker’s stock valued at $12,898,000 after purchasing an additional 18,209 shares in the last quarter. Clear Creek Financial Management LLC grew its holdings in shares of Intel by 2.5% in the third quarter. Clear Creek Financial Management LLC now owns 17,009 shares of the chip maker’s stock valued at $605,000 after purchasing an additional 411 shares in the last quarter. Finally, Tectonic Advisors LLC grew its holdings in shares of Intel by 14.3% in the third quarter. Tectonic Advisors LLC now owns 35,532 shares of the chip maker’s stock valued at $1,263,000 after purchasing an additional 4,443 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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.