Intel (NASDAQ:INTC)‘s stock had its “sell” rating reiterated by Northland Securities in a note issued to investors on Tuesday. They presently have a $38.00 price objective on the chip maker’s stock. Northland Securities’ price target suggests a potential downside of 28.57% from the company’s current price.
The analysts wrote, “We are currently big believers that dumpster diving (value investing) offers the best risk reward in the semiconductor sector. We do not recommend diving into dumpsters that are on fire (deteriorating fundamentals). INTC is falling further behind in process technology and market share is eroding as Chinese infrastructure shifts to indigenous silicon suppliers, AMD/TSMC gains share elsewhere and non-chip companies design their own CPUs. Reiterate UP rating and $38 PT.””
INTC has been the topic of several other research reports. Royal Bank of Canada reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Intel in a research note on Wednesday, January 23rd. Macquarie set a $60.00 price target on shares of Intel and gave the stock a “buy” rating in a research note on Monday, October 29th. BidaskClub downgraded shares of Intel from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. ValuEngine downgraded shares of Intel from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Morgan Stanley raised shares of Intel from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $55.00 to $64.00 in a research note on Friday. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have given a buy rating to the company. Intel has an average rating of “Hold” and a consensus target price of $54.33.
Shares of Intel stock traded up $0.10 during trading on Tuesday, hitting $53.20. The stock had a trading volume of 5,156,841 shares, compared to its average volume of 25,944,420. The firm has a market capitalization of $245.56 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The company has a current ratio of 1.73, a quick ratio of 1.30 and a debt-to-equity ratio of 0.34. Intel has a 12 month low of $42.36 and a 12 month high of $57.60.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 24th. The chip maker reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.06. The company had revenue of $18.66 billion for the quarter, compared to the consensus estimate of $19.02 billion. Intel had a net margin of 29.72% and a return on equity of 30.08%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 EPS. As a group, sell-side analysts predict that Intel will post 4.5 earnings per share for the current fiscal year.
Intel declared that its board has approved a share repurchase plan on Thursday, November 15th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the chip maker to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other news, VP Kevin Thomas Mcbride sold 518 shares of Intel stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $51.33, for a total value of $26,588.94. Following the transaction, the vice president now owns 8,274 shares of the company’s stock, valued at approximately $424,704.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Navin Shenoy sold 4,522 shares of Intel stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $50.00, for a total transaction of $226,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,557 shares of company stock worth $896,751 in the last three months. Insiders own 0.03% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Actinver Wealth Management Inc. acquired a new stake in Intel in the 4th quarter worth approximately $1,442,000. Peoples Bank OH boosted its stake in Intel by 8.4% in the 4th quarter. Peoples Bank OH now owns 10,046 shares of the chip maker’s stock worth $472,000 after purchasing an additional 775 shares in the last quarter. Aspire Private Capital LLC acquired a new stake in Intel in the 4th quarter worth approximately $112,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Intel in the 4th quarter worth approximately $4,237,000. Finally, Bell & Brown Wealth Advisors LLC boosted its stake in Intel by 4.2% in the 4th quarter. Bell & Brown Wealth Advisors LLC now owns 29,992 shares of the chip maker’s stock worth $1,408,000 after purchasing an additional 1,202 shares in the last quarter. 64.07% of the stock is currently owned by hedge funds and other institutional investors.
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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