Bank of America downgraded shares of Intel (NASDAQ:INTC – Free Report) from a neutral rating to an underperform rating in a research report sent to investors on Friday, MarketBeat Ratings reports. Bank of America currently has $23.00 price objective on the chip maker’s stock, down from their prior price objective of $35.00.
Other research analysts have also recently issued reports about the stock. Roth Mkm lowered their price target on shares of Intel from $45.00 to $35.00 and set a neutral rating on the stock in a report on Friday, April 26th. TD Cowen lowered their price target on shares of Intel from $42.00 to $35.00 and set a hold rating on the stock in a report on Friday, April 26th. Evercore ISI lowered their target price on shares of Intel from $40.00 to $36.00 and set an in-line rating on the stock in a report on Friday, April 26th. Susquehanna lowered their target price on shares of Intel from $40.00 to $35.00 and set a neutral rating on the stock in a report on Friday, April 26th. Finally, Morgan Stanley lowered their target price on shares of Intel from $48.00 to $36.00 and set an equal weight rating on the stock in a report on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $33.41.
Check Out Our Latest Stock Analysis on INTC
Intel Stock Performance
Intel Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.33%. Intel’s dividend payout ratio (DPR) is presently 52.08%.
Hedge Funds Weigh In On Intel
Hedge funds and other institutional investors have recently bought and sold shares of the company. Burkett Financial Services LLC acquired a new position in Intel in the fourth quarter valued at $27,000. Frazier Financial Advisors LLC bought a new stake in Intel in the fourth quarter valued at $27,000. Tributary Capital Management LLC bought a new stake in shares of Intel during the first quarter worth about $27,000. Signature Resources Capital Management LLC bought a new stake in shares of Intel during the fourth quarter worth about $37,000. Finally, Bare Financial Services Inc bought a new stake in shares of Intel during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 64.53% of the company’s stock.
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.
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