BofA Securities Lowers Intel (NASDAQ:INTC) to Underperform

BofA Securities cut shares of Intel (NASDAQ:INTC) from a neutral rating to an underperform rating in a research note released on Friday morning, Analyst Ratings Network reports. They currently have $45.00 price objective on the chip maker’s stock, down from their previous price objective of $60.00.

Several other brokerages have also recently issued reports on INTC. Barclays cut shares of Intel from an equal weight rating to an underweight rating and lowered their price objective for the company from $58.00 to $48.00 in a research note on Friday, July 24th. Northland Securities started coverage on shares of Intel in a research report on Friday, September 11th. They set a sell rating and a $48.00 price target for the company. SVB Leerink started coverage on shares of Intel in a research report on Friday, July 24th. They set a hold rating for the company. Loop Capital decreased their price target on shares of Intel from $59.00 to $50.00 and set a sell rating for the company in a research report on Friday, July 24th. Finally, Exane BNP Paribas cut shares of Intel from an outperform rating to an underperform rating and set a $47.00 price objective for the company. in a research report on Friday, July 24th. Thirteen investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus 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 current ratio of 1.97 and a quick ratio of 1.58. Intel has a 1 year low of $43.63 and a 1 year high of $69.29. The company has a market capitalization of $198.70 billion, a P/E ratio of 8.60, a P/E/G ratio of 1.50 and a beta of 0.72. The business has a 50 day moving average price of $51.15 and a 200 day moving average price of $55.40.

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

The business also recently disclosed 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 of this dividend is Friday, November 6th. Intel’s dividend payout ratio (DPR) is presently 27.10%.

In other news, EVP Navin Shenoy sold 2,847 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $48.18, for a total value of $137,168.46. Following the completion of the transaction, the executive vice president now directly owns 71,807 shares in the company, valued at $3,459,661.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin Thomas Mcbride sold 4,400 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $49.28, for a total transaction of $216,832.00. Following the completion of the transaction, the vice president now owns 14,214 shares of the company’s stock, valued at $700,465.92. The disclosure for this sale can be found here. Insiders sold 7,491 shares of company stock valued at $365,878 over the last quarter. Insiders own 0.04% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Archford Capital Strategies LLC boosted its holdings in Intel by 2.9% during the third quarter. Archford Capital Strategies LLC now owns 6,639 shares of the chip maker’s stock worth $344,000 after buying an additional 190 shares in the last quarter. Pure Financial Advisors Inc. boosted its holdings in Intel by 4.4% during the second quarter. Pure Financial Advisors Inc. now owns 4,748 shares of the chip maker’s stock worth $284,000 after buying an additional 199 shares in the last quarter. NewFocus Financial Group LLC boosted its holdings in Intel by 3.7% during the second quarter. NewFocus Financial Group LLC now owns 5,585 shares of the chip maker’s stock worth $334,000 after buying an additional 200 shares in the last quarter. Clarity Wealth Advisors LLC boosted its holdings in Intel by 1.7% during the third quarter. Clarity Wealth Advisors LLC now owns 11,905 shares of the chip maker’s stock worth $616,000 after buying an additional 200 shares in the last quarter. Finally, RMB Capital Management LLC boosted its holdings in Intel by 1.7% during the second quarter. RMB Capital Management LLC now owns 12,588 shares of the chip maker’s stock worth $753,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds 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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