Credit Suisse Group Cuts Intel (NASDAQ:INTC) Price Target to $65.00

Intel (NASDAQ:INTC) had its price objective lowered by Credit Suisse Group from $70.00 to $65.00 in a report released on Friday morning, AR Network reports. Credit Suisse Group currently has a buy rating on the chip maker’s stock. The analysts noted that the move was a valuation call.

INTC has been the subject of several other reports. Roth Capital cut shares of Intel from a buy rating to a neutral rating and decreased their price objective for the company from $75.00 to $55.00 in a report on Friday, July 24th. Zacks Investment Research cut shares of Intel from a buy rating to a hold rating and set a $53.00 target price for the company. in a report on Monday, July 27th. UBS Group raised their target price on shares of Intel from $64.00 to $67.00 and gave the stock a buy rating in a report on Wednesday, October 14th. ValuEngine upgraded shares of Intel from a strong sell rating to a sell rating in a report on Thursday, September 10th. Finally, Charter Equity restated a hold rating on shares of Intel in a report on Friday, July 24th. Thirteen analysts have rated the stock with a sell rating, seventeen have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $57.76.

Intel stock opened at $46.72 on Friday. The firm has a 50 day simple moving average of $51.15 and a 200-day simple moving average of $55.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.97 and a quick ratio of 1.58. The stock has a market capitalization of $198.70 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 1.50 and a beta of 0.72. Intel has a 12-month low of $43.63 and a 12-month high of $69.29.

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 consensus estimate of $1.10 by $0.01. The business had revenue of $18.33 billion during the quarter, compared to analysts’ expectations of $18.26 billion. Intel had a net margin of 29.97% and a return on equity of 31.55%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.42 earnings per share. On average, analysts forecast that Intel will post 4.86 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Saturday, November 7th will be given 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 dividend yield of 2.83%. Intel’s dividend payout ratio (DPR) is currently 27.10%.

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

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

Intel Company Profile

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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