BidaskClub Downgrades Intel (INTC) to Buy

BidaskClub cut shares of Intel (NASDAQ:INTC) from a strong-buy rating to a buy rating in a report issued on Saturday, March 30th, BidAskClub reports.

Several other research firms have also recently commented on INTC. Northland Securities restated a sell rating and issued a $38.00 target price on shares of Intel in a research report on Friday, March 15th. Zacks Investment Research upgraded Intel from a hold rating to a buy rating and set a $60.00 target price on the stock in a research report on Wednesday, March 27th. Deutsche Bank raised their target price on Intel from $55.00 to $65.00 and gave the company a buy rating in a research report on Tuesday, February 26th. Morgan Stanley upgraded Intel from an equal weight rating to an overweight rating and raised their target price for the company from $55.00 to $64.00 in a research report on Friday, February 22nd. Finally, Needham & Company LLC cut Intel from a buy rating to a hold rating and lowered their target price for the company from $58.00 to $50.00 in a research report on Friday, January 25th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Intel currently has a consensus rating of Hold and a consensus price target of $55.40.

Shares of Intel stock traded down $0.07 on Friday, reaching $58.49. 20,464,197 shares of the company were exchanged, compared to its average volume of 18,158,996. The company has a current ratio of 1.73, a quick ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $273.63 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.54 and a beta of 0.79. Intel has a 1-year low of $42.36 and a 1-year high of $59.59.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 24th. The chip maker reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $18.66 billion for the quarter, compared to analysts’ expectations of $19.02 billion. Intel had a return on equity of 30.08% and a net margin of 29.72%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. Sell-side analysts predict that Intel will post 4.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is presently 27.51%.

In other news, EVP Steven Ralph Rodgers sold 25,170 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $55.00, for a total transaction of $1,384,350.00. Following the completion of the sale, the executive vice president now directly owns 48,140 shares of the company’s stock, valued at approximately $2,647,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kevin Thomas Mcbride sold 518 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $51.33, for a total value of $26,588.94. Following the completion of the sale, the vice president now directly owns 8,274 shares of the company’s stock, valued at approximately $424,704.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,431 shares of company stock valued at $3,500,497. Corporate insiders own 0.02% of the company’s stock.

Several institutional investors have recently modified their holdings of INTC. Tributary Capital Management LLC acquired a new stake in Intel during the fourth quarter valued at $28,000. Stone House Investment Management LLC acquired a new stake in Intel during the first quarter valued at $32,000. Next Capital Management LLC acquired a new stake in Intel during the fourth quarter valued at $46,000. Virtus ETF Advisers LLC acquired a new stake in Intel during the fourth quarter valued at $48,000. Finally, Guidant Wealth Advisors boosted its position in Intel by 234.9% during the first quarter. Guidant Wealth Advisors now owns 921 shares of the chip maker’s stock valued at $49,000 after purchasing an additional 646 shares during the last quarter. 64.69% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Intel (NASDAQ:INTC)

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