Rosenblatt Securities reissued their sell rating on shares of Intel (NASDAQ:INTC) in a research note issued to investors on Friday, AR Network reports. Rosenblatt Securities currently has a $40.00 price objective on the chip maker’s stock, down from their prior price objective of $45.00.
Several other brokerages also recently issued reports on INTC. Bank of America downgraded shares of Intel from a buy rating to a neutral rating and cut their price target for the company from $70.00 to $62.00 in a report on Friday, July 24th. Charter Equity reissued a hold rating on shares of Intel in a report on Friday, July 24th. Standpoint Research raised shares of Intel from a hold rating to a buy rating in a report on Tuesday, September 8th. BNP Paribas downgraded shares of Intel from an outperform rating to an underperform rating in a report on Friday, July 24th. Finally, Wells Fargo & Company cut their price target on shares of Intel from $60.00 to $55.00 in a report on Friday, July 24th. Thirteen research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $57.76.
Shares of Intel stock opened at $46.72 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.58 and a current ratio of 1.97. The firm’s 50-day simple moving average is $51.15 and its 200-day simple moving average is $55.40. Intel has a twelve month low of $43.63 and a twelve month high of $69.29. The firm has a market cap of $198.70 billion, a P/E ratio of 8.60, a price-to-earnings-growth ratio of 1.50 and a beta of 0.72.
Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 22nd. The chip maker reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.01. Intel had a net margin of 29.97% and a return on equity of 31.55%. The business had revenue of $18.33 billion for the quarter, compared to analyst estimates of $18.26 billion. During the same period in the previous year, the business earned $1.42 EPS. The firm’s revenue was down 4.5% on a year-over-year basis. On average, equities analysts forecast that Intel will post 4.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Saturday, November 7th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, November 6th. Intel’s dividend payout ratio (DPR) is presently 27.10%.
In other news, VP Kevin Thomas Mcbride sold 4,400 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $49.28, for a total value of $216,832.00. Following the completion of the transaction, the vice president now owns 14,214 shares in the company, valued at $700,465.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Navin Shenoy sold 2,847 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $48.18, for a total transaction of $137,168.46. Following the completion of the sale, the executive vice president now directly owns 71,807 shares in the company, valued at approximately $3,459,661.26. The disclosure for this sale can be found here. Insiders sold 7,491 shares of company stock valued at $365,878 in the last quarter. Corporate insiders own 0.04% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Modus Advisors LLC bought a new stake in shares of Intel in the second quarter worth $25,000. Price Wealth LLC lifted its position in shares of Intel by 119.5% in the second quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock worth $28,000 after purchasing an additional 251 shares in the last quarter. FAI Wealth Management lifted its position in shares of Intel by 390.4% in the second quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock worth $30,000 after purchasing an additional 406 shares in the last quarter. Okabena Investment Services Inc. bought a new stake in shares of Intel in the second quarter worth $42,000. Finally, Demars Financial Group LLC bought a new stake in shares of Intel in the second quarter worth $43,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.
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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