Intel (NASDAQ:INTC) Stock Rating Lowered by Mizuho

Mizuho cut shares of Intel (NASDAQ:INTC) from an outperform rating to a neutral rating in a research note issued to investors on Thursday, MarketBeat.com reports. They currently have $22.00 price target on the chip maker’s stock, down from their previous price target of $36.00.

Several other research analysts have also recently weighed in on the stock. Bank of America cut shares of Intel from a neutral rating to an underperform rating and lowered their price target for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Raymond James cut shares of Intel from an outperform rating to a market perform rating in a research report on Friday, August 2nd. Evercore ISI reduced their price objective on shares of Intel from $40.00 to $36.00 and set an in-line rating on the stock in a report on Friday, April 26th. Morgan Stanley reduced their price objective on shares of Intel from $36.00 to $25.00 and set an equal weight rating on the stock in a report on Friday, August 2nd. Finally, Wedbush reduced their price objective on shares of Intel from $32.50 to $25.00 and set a neutral rating on the stock in a report 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 issued a buy rating to the stock. According to data from MarketBeat.com, Intel has an average rating of Hold and a consensus price target of $32.04.

Intel Price Performance

INTC traded down $0.78 on Thursday, hitting $19.71. 76,266,178 shares of the company’s stock were exchanged, compared to its average volume of 51,828,367. The firm has a 50-day moving average price of $30.50 and a 200-day moving average price of $36.09. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The stock has a market cap of $83.91 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 17.38 and a beta of 1.05. Intel has a fifty-two week low of $18.84 and a fifty-two week high of $51.28.

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

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given 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 dividend payout ratio (DPR) is presently 52.08%.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following 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 legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. WealthPLAN Partners LLC boosted its holdings in Intel by 10.8% in the 2nd quarter. WealthPLAN Partners LLC now owns 87,662 shares of the chip maker’s stock valued at $2,715,000 after purchasing an additional 8,534 shares in the last quarter. Wulff Hansen & CO. boosted its stake in shares of Intel by 2,425.1% in the second quarter. Wulff Hansen & CO. now owns 945,576 shares of the chip maker’s stock valued at $30,532,000 after buying an additional 908,129 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in Intel by 70.3% during the second quarter. Citizens Financial Group Inc. RI now owns 69,114 shares of the chip maker’s stock worth $2,140,000 after acquiring an additional 28,531 shares during the period. Total Clarity Wealth Management Inc. raised its position in Intel by 3.5% in the second quarter. Total Clarity Wealth Management Inc. now owns 22,053 shares of the chip maker’s stock worth $683,000 after acquiring an additional 748 shares in the last quarter. Finally, One Capital Management LLC lifted its holdings in Intel by 27.2% in the second quarter. One Capital Management LLC now owns 218,985 shares of the chip maker’s stock valued at $6,782,000 after acquiring an additional 46,777 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Company Profile

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.