Intel Corporation (INTC) Given “Underperform” Rating at Sanford C. Bernstein
Sanford C. Bernstein restated their underperform rating on shares of Intel Corporation (NASDAQ:INTC) in a report published on Friday morning. Sanford C. Bernstein currently has a $30.00 target price on the chip maker’s stock.
INTC has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Intel Corporation from a hold rating to a sell rating in a report on Wednesday, April 12th. Susquehanna Bancshares Inc reissued a positive rating on shares of Intel Corporation in a report on Tuesday, March 28th. Canaccord Genuity reissued a hold rating and issued a $38.00 price objective on shares of Intel Corporation in a report on Thursday, March 16th. Mizuho reissued a buy rating and issued a $42.00 price objective on shares of Intel Corporation in a report on Tuesday, April 11th. Finally, Macquarie initiated coverage on shares of Intel Corporation in a report on Thursday, March 30th. They issued an outperform rating and a $40.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $40.09.
Shares of Intel Corporation (INTC) traded down 0.61% on Friday, reaching $34.47. 21,044,407 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $35.45 and its 200 day moving average price is $36.07. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $38.45. The company has a market cap of $162.32 billion, a price-to-earnings ratio of 14.92 and a beta of 1.00.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 27th. The chip maker reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $14.80 billion. Intel Corporation had a net margin of 18.57% and a return on equity of 21.48%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS. Equities research analysts predict that Intel Corporation will post $2.86 EPS for the current fiscal year.
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In related news, insider Stacy J. Smith sold 29,497 shares of Intel Corporation stock in a transaction on Friday, April 21st. The shares were sold at an average price of $36.28, for a total value of $1,070,151.16. Following the transaction, the insider now directly owns 318,654 shares of the company’s stock, valued at $11,560,767.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian M. Krzanich sold 72,173 shares of Intel Corporation stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the completion of the transaction, the chief executive officer now directly owns 534,746 shares in the company, valued at $18,015,592.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,994 shares of company stock worth $4,166,359. 0.09% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cordasco Financial Network increased its position in shares of Intel Corporation by 0.7% in the first quarter. Cordasco Financial Network now owns 5,699 shares of the chip maker’s stock valued at $206,000 after buying an additional 38 shares during the last quarter. Summit Asset Management LLC increased its position in shares of Intel Corporation by 0.7% in the first quarter. Summit Asset Management LLC now owns 6,281 shares of the chip maker’s stock valued at $227,000 after buying an additional 46 shares during the last quarter. First Hawaiian Bank increased its position in shares of Intel Corporation by 0.9% in the first quarter. First Hawaiian Bank now owns 5,769 shares of the chip maker’s stock valued at $208,000 after buying an additional 50 shares during the last quarter. First Command Financial Services Inc. increased its position in shares of Intel Corporation by 0.4% in the first quarter. First Command Financial Services Inc. now owns 12,607 shares of the chip maker’s stock valued at $455,000 after buying an additional 51 shares during the last quarter. Finally, Conservest Capital Advisors Inc. increased its position in shares of Intel Corporation by 0.6% in the second quarter. Conservest Capital Advisors Inc. now owns 8,953 shares of the chip maker’s stock valued at $302,000 after buying an additional 51 shares during the last quarter. 67.35% of the stock is currently owned by institutional investors.
Intel Corporation Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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