Cowen Cuts Intel (NASDAQ:INTC) Price Target to $50.00

Intel (NASDAQ:INTC) had its price target cut by Cowen from $55.00 to $50.00 in a research note published on Friday, AnalystRatings.net reports. They currently have a market perform rating on the chip maker’s stock.

A number of other brokerages have also weighed in on INTC. Goldman Sachs Group reaffirmed a sell rating and set a $46.00 target price on shares of Intel in a research report on Monday, July 27th. BNP Paribas lowered Intel from an outperform rating to an underperform rating in a research report on Friday, July 24th. BMO Capital Markets decreased their target price on Intel from $55.00 to $50.00 and set a market perform rating for the company in a research report on Friday, July 24th. Charter Equity reaffirmed a hold rating on shares of Intel in a research report on Friday, July 24th. Finally, 140166 boosted their price target on Intel from $53.00 to $56.00 and gave the stock a neutral rating in a research report on Wednesday, October 21st. Thirteen research analysts have rated the stock with a sell rating, seventeen have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $57.76.

INTC opened at $46.72 on Friday. The business has a fifty day moving average of $51.15 and a 200 day moving average of $55.40. Intel has a 52-week low of $43.63 and a 52-week high of $69.29. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.44. The stock has a market cap of $198.70 billion, a P/E ratio of 8.60, a PEG ratio of 1.50 and a beta of 0.72.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 22nd. The chip maker reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.01. Intel had a return on equity of 31.55% and a net margin of 29.97%. The company had revenue of $18.33 billion during the quarter, compared to analysts’ expectations of $18.26 billion. During the same quarter in the previous year, the business earned $1.42 EPS. Intel’s revenue was down 4.5% compared to the same quarter last year. Equities analysts anticipate that Intel will post 4.86 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Saturday, November 7th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.32 annualized dividend and a yield of 2.83%. Intel’s payout ratio is presently 27.10%.

In other news, VP Kevin Thomas Mcbride sold 4,400 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $49.28, for a total value of $216,832.00. Following the sale, the vice president now owns 14,214 shares in the company, valued at $700,465.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Navin Shenoy sold 2,847 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $48.18, for a total value of $137,168.46. Following the completion of the sale, the executive vice president now owns 71,807 shares in the company, valued at approximately $3,459,661.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,491 shares of company stock worth $365,878. Company insiders own 0.04% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Intel by 7.0% in the second quarter. Bank of New York Mellon Corp now owns 43,643,371 shares of the chip maker’s stock worth $2,611,183,000 after buying an additional 2,854,921 shares during the last quarter. Morgan Stanley boosted its stake in shares of Intel by 3.8% in the first quarter. Morgan Stanley now owns 30,413,363 shares of the chip maker’s stock worth $1,645,971,000 after buying an additional 1,108,810 shares during the last quarter. FMR LLC boosted its stake in shares of Intel by 39.2% in the second quarter. FMR LLC now owns 29,092,410 shares of the chip maker’s stock worth $1,740,598,000 after buying an additional 8,197,324 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Intel by 3.1% in the 2nd quarter. Fisher Asset Management LLC now owns 28,665,401 shares of the chip maker’s stock worth $1,715,051,000 after purchasing an additional 863,417 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Intel by 116.0% in the 2nd quarter. Nordea Investment Management AB now owns 14,478,112 shares of the chip maker’s stock worth $863,186,000 after purchasing an additional 7,774,135 shares during the period. Hedge funds and other institutional investors own 64.41% of the company’s stock.

About Intel

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

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