BofA Securities Lowers Intel (NASDAQ:INTC) to Underperform

BofA Securities downgraded shares of Intel (NASDAQ:INTC) from a neutral rating to an underperform rating in a research report sent to investors on Friday, AnalystRatings.net reports. They currently have $45.00 price objective on the chip maker’s stock, down from their prior price objective of $60.00.

Other equities research analysts have also issued reports about the company. Standpoint Research raised Intel from a hold rating to a buy rating in a research report on Tuesday, September 8th. Zacks Investment Research lowered Intel from a buy rating to a hold rating and set a $53.00 price target for the company. in a research report on Monday, July 27th. Needham & Company LLC reissued a hold rating on shares of Intel in a research report on Tuesday, July 7th. Sanford C. Bernstein reissued a sell rating and issued a $45.00 price target on shares of Intel in a research report on Tuesday, October 20th. Finally, BidaskClub raised Intel from a sell rating to a hold rating in a research report on Tuesday, October 20th. Thirteen equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $57.76.

Shares of NASDAQ INTC opened at $46.72 on Friday. 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 business has a fifty day simple moving average of $51.15 and a two-hundred day simple moving average of $55.40. The firm has a market cap 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 twelve month low of $43.63 and a twelve month high of $69.29.

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

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

In other Intel news, VP Kevin Thomas Mcbride sold 4,400 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the executive vice president now directly owns 71,807 shares of the company’s stock, valued at approximately $3,459,661.26. The disclosure for this sale can be found here. Insiders sold a total of 7,491 shares of company stock valued at $365,878 in the last ninety days. 0.04% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in INTC. Modus Advisors LLC acquired a new position in shares of Intel during the second quarter valued at approximately $25,000. Price Wealth LLC raised its holdings in shares of Intel by 119.5% during the second quarter. Price Wealth LLC now owns 461 shares of the chip maker’s stock valued at $28,000 after acquiring an additional 251 shares during the last quarter. FAI Wealth Management raised its holdings in shares of Intel by 390.4% during the second quarter. FAI Wealth Management now owns 510 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 406 shares during the last quarter. Okabena Investment Services Inc. acquired a new position in shares of Intel during the second quarter valued at approximately $42,000. Finally, Demars Financial Group LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $43,000. 64.41% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Intel (NASDAQ:INTC)

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