Intel (NASDAQ:INTC) Downgraded to Hold at Argus

Argus lowered shares of Intel (NASDAQ:INTC) from a buy rating to a hold rating in a research report report published on Tuesday, Marketbeat reports.

INTC has been the topic of a number of other reports. StockNews.com raised shares of Intel from a sell rating to a hold rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced their target price on shares of Intel from $43.00 to $38.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. The Goldman Sachs Group reduced their target price on shares of Intel from $29.00 to $22.00 and set a sell rating on the stock in a research report on Friday, August 2nd. Citigroup dropped their price objective on shares of Intel from $47.50 to $40.00 and set a neutral rating on the stock in a research note on Monday, April 15th. Finally, Benchmark downgraded shares of Intel from a buy rating to a hold rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $32.04.

Intel Trading Down 3.8 %

INTC traded down $0.78 during trading on Tuesday, reaching $19.71. The company had a trading volume of 76,394,546 shares, compared to its average volume of 51,828,367. The stock has a market cap of $83.91 billion, a P/E ratio of 20.53, a PEG ratio of 17.38 and a beta of 1.05. The business has a 50 day simple moving average of $30.28 and a 200-day simple moving average of $35.89. Intel has a 52 week low of $18.84 and a 52 week high of $51.28. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. On average, equities analysts anticipate that Intel will post 0.07 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.54%. Intel’s payout ratio is 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Institutional investors have recently modified their holdings of the stock. America First Investment Advisors LLC acquired a new position in Intel during the second quarter worth about $25,000. Frazier Financial Advisors LLC acquired a new position in Intel during the fourth quarter worth about $27,000. Burkett Financial Services LLC acquired a new position in Intel during the fourth quarter worth about $27,000. Tributary Capital Management LLC acquired a new position in Intel during the first quarter worth about $27,000. Finally, Spartan Fund Management Inc. acquired a new position in Intel during the second quarter worth about $31,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.