Intel (NASDAQ:INTC) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Intel (NASDAQ:INTC) from a buy rating to a hold rating in a research note issued to investors on Friday, BidAskClub reports.

A number of other brokerages also recently commented on INTC. Cowen lifted their price objective on shares of Intel from $50.00 to $53.00 and gave the company a market perform rating in a research report on Friday, October 25th. Loop Capital set a $50.00 price objective on shares of Intel and gave the company a hold rating in a research report on Friday, October 18th. Robert W. Baird lifted their price objective on shares of Intel from $65.00 to $70.00 and gave the company an outperform rating in a research report on Friday, October 25th. Barclays lifted their price objective on shares of Intel from $40.00 to $42.00 and gave the company an underweight rating in a research report on Friday, October 25th. Finally, Zacks Investment Research raised shares of Intel from a hold rating to a strong-buy rating and set a $59.00 price objective for the company in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $56.88.

Intel stock opened at $59.60 on Friday. The company has a market cap of $259.26 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. Intel has a 1-year low of $42.86 and a 1-year high of $60.97. The company has a fifty day simple moving average of $58.66 and a 200 day simple moving average of $53.34. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32.

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

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

In other Intel news, Director Frank D. Yeary sold 2,509 shares of Intel stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $56.34, for a total value of $141,357.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Navin Shenoy sold 1,404 shares of Intel stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.94, for a total transaction of $78,539.76. Following the completion of the sale, the executive vice president now owns 58,168 shares of the company’s stock, valued at approximately $3,253,917.92. The disclosure for this sale can be found here. Insiders have sold a total of 81,284 shares of company stock valued at $4,517,194 in the last ninety days. 0.02% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Tower View Investment Management & Research LLC acquired a new position in shares of Intel in the 4th quarter valued at approximately $31,000. Corbenic Partners LLC acquired a new position in shares of Intel in the 4th quarter valued at approximately $41,000. Intercontinental Wealth Advisors LLC raised its position in shares of Intel by 83.0% in the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 992 shares of the chip maker’s stock valued at $51,000 after buying an additional 450 shares in the last quarter. Lenox Wealth Advisors LLC raised its position in shares of Intel by 117.4% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,000 shares of the chip maker’s stock valued at $52,000 after buying an additional 540 shares in the last quarter. Finally, Garrett Wealth Advisory Group LLC acquired a new position in shares of Intel in the 3rd quarter valued at approximately $62,000. Institutional investors and hedge funds own 65.48% of the company’s stock.

Intel Company Profile

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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