Intel (NASDAQ:INTC) Rating Lowered to Hold at BidaskClub

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Intel (NASDAQ:INTC) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, BidAskClub reports.

A number of other analysts have also issued reports on INTC. JPMorgan Chase & Co. set a $68.00 target price on Intel and gave the stock an “overweight” rating in a research report on Friday, October 25th. SunTrust Banks increased their price target on Intel from $58.00 to $60.00 and gave the company a “hold” rating in a report on Friday, October 25th. BMO Capital Markets raised their price objective on Intel from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Wedbush lifted their price objective on Intel from $42.90 to $46.00 and gave the stock an “underperform” rating in a report on Friday, October 25th. Finally, Sanford C. Bernstein reaffirmed a “sell” rating and issued a $42.00 target price on shares of Intel in a research report on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $56.42.

INTC opened at $56.81 on Friday. The firm’s 50 day moving average is $56.55 and its 200-day moving average is $50.41. Intel has a 52-week low of $42.86 and a 52-week high of $59.59. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $247.12 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.64 and a beta of 0.91.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.18. Intel had a net margin of 27.46% and a return on equity of 28.28%. The business had revenue of $19.19 billion during the quarter, compared to the consensus estimate of $18.07 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts expect that Intel will post 4.61 earnings per share for the current fiscal year.

Intel declared that its Board of Directors has initiated a share repurchase program on Thursday, October 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the chip maker to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Intel news, Director Frank D. Yeary sold 2,509 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $57.86, for a total transaction of $145,170.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Balliet sold 6,833 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $24.25, for a total value of $165,700.25. Over the last 90 days, insiders sold 71,247 shares of company stock worth $3,837,663. 0.02% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of INTC. Putnam FL Investment Management Co. lifted its holdings in shares of Intel by 6.0% in the second quarter. Putnam FL Investment Management Co. now owns 159,611 shares of the chip maker’s stock valued at $7,641,000 after buying an additional 9,008 shares during the period. Asset Planning Services Inc. LA ADV raised its position in Intel by 2.1% in the second quarter. Asset Planning Services Inc. LA ADV now owns 121,027 shares of the chip maker’s stock worth $5,794,000 after acquiring an additional 2,450 shares in the last quarter. Bridgeworth LLC raised its position in Intel by 3.6% in the second quarter. Bridgeworth LLC now owns 8,978 shares of the chip maker’s stock worth $429,000 after acquiring an additional 310 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Intel by 1.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 132,256 shares of the chip maker’s stock valued at $6,331,000 after acquiring an additional 1,487 shares during the last quarter. Finally, Conning Inc. lifted its holdings in Intel by 6.6% in the 2nd quarter. Conning Inc. now owns 977,563 shares of the chip maker’s stock valued at $46,796,000 after acquiring an additional 60,636 shares during the last quarter. Institutional investors and hedge funds own 65.34% of the company’s stock.

About Intel

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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