Intel (NASDAQ:INTC) Downgraded to Hold at Benchmark

Benchmark cut shares of Intel (NASDAQ:INTC) from a buy rating to a hold rating in a research report report published on Friday morning, MarketBeat.com reports.

Several other equities analysts have also commented on INTC. Evercore ISI dropped their target price on Intel from $40.00 to $36.00 and set an in-line rating for the company in a research note on Friday, April 26th. Wolfe Research raised Intel from an underperform rating to a peer perform rating in a research report on Thursday, May 16th. Citigroup lowered their price target on Intel from $47.50 to $40.00 and set a neutral rating for the company in a research report on Monday, April 15th. The Goldman Sachs Group lowered their price target on Intel from $34.00 to $30.00 and set a sell rating for the company in a research report on Thursday, May 9th. Finally, Mizuho lowered their price target on Intel from $55.00 to $45.00 and set a buy rating for the company in a research report on Friday, April 26th. Five analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $33.41.

Intel Trading Down 26.1 %

Intel stock traded down $7.57 during trading on Friday, hitting $21.48. The company’s stock had a trading volume of 300,895,920 shares, compared to its average volume of 60,137,096. The stock has a market capitalization of $91.44 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 17.38 and a beta of 1.05. The stock’s fifty day moving average is $31.35 and its 200 day moving average is $36.85. Intel has a 1-year low of $20.42 and a 1-year high of $51.28. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Institutional Trading of Intel

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after buying an additional 3,310,528 shares in the last quarter. Capital International Investors raised its position in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Primecap Management Co. CA raised its position in shares of Intel by 0.6% during the 4th quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock worth $3,780,706,000 after purchasing an additional 475,636 shares during the period. Norges Bank acquired a new stake in shares of Intel during the 4th quarter worth approximately $2,424,202,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after purchasing an additional 2,457,243 shares during the period. Institutional investors and hedge funds 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.