Cantor Fitzgerald Cuts Intel (NASDAQ:INTC) Price Target to $27.00

Intel (NASDAQ:INTC) had its target price trimmed by Cantor Fitzgerald from $40.00 to $27.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the chip maker’s stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Intel from $43.00 to $38.00 and set an equal weight rating for the company in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $38.00 to $27.00 and set a hold rating for the company in a research report on Friday. Mizuho lowered their target price on Intel from $55.00 to $45.00 and set a buy rating for the company in a research report on Friday, April 26th. Evercore ISI lowered their target price on Intel from $40.00 to $36.00 and set an in-line rating for the company in a research report on Friday, April 26th. Finally, TD Cowen lowered their target price on Intel from $35.00 to $25.00 and set a hold rating for the company in a research report on Friday. Five investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Intel has a consensus rating of Hold and an average price target of $32.92.

Intel Stock Performance

Intel stock traded down $1.32 during midday trading on Friday, hitting $20.16. The stock had a trading volume of 96,940,453 shares, compared to its average volume of 50,346,566. The firm’s fifty day moving average is $31.35 and its two-hundred day moving average is $36.71. The company has a market capitalization of $85.82 billion, a PE ratio of 20.65, a P/E/G ratio of 17.38 and a beta of 1.05. Intel has a 52-week low of $19.31 and a 52-week high of $51.28. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) 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 period last year, the business earned ($0.05) earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, research analysts forecast that Intel will post 0.07 EPS for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.48%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Hedge Funds Weigh In On Intel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Intel in the fourth quarter worth about $2,424,202,000. Price T Rowe Associates Inc. MD boosted its holdings in Intel by 543.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after acquiring an additional 31,575,084 shares in the last quarter. Capital International Investors boosted its holdings in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after acquiring an additional 8,140,835 shares in the last quarter. Hedge funds and other institutional investors 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.