Intel Corporation (INTC) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Intel Corporation (NASDAQ:INTC) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Intel’s growing focus on the data-centric part of the business is positive. The launch of Xeon Scalable is anticipated to improve its footprint in the data center as well as AI space, going forward. The company recently unveiled Myriad X, which will boost footprint in the IoT space. Moreover, the recent Core 8 launch will boost PC market share amid intensifying competition from AMD. We note that the top-PC makers like HP, Lenovo, and Asus are set to launch PCs based on Qualcomm’s ARM-based Snapdragon processor, which is a headwind for the company. Further, anticipated improvement in cost structure and lower spending, primarily due to improving operational efficiency will aid in expansion of margins going forward. Additionally, aggressive share buyback will boost the bottom line in 2017. However, we note that Intel has underperformed the industry on a year-to-date basis. Moreover, declining PC-shipments is a concern.”
A number of other analysts have also commented on the company. Credit Suisse Group reissued an outperform rating on shares of Intel Corporation in a research note on Thursday, August 31st. Needham & Company LLC reissued a buy rating and set a $43.00 price target on shares of Intel Corporation in a research note on Wednesday, July 12th. BidaskClub lowered Intel Corporation from a hold rating to a sell rating in a research note on Friday, August 25th. ValuEngine lowered Intel Corporation from a buy rating to a hold rating in a research note on Friday, September 1st. Finally, Wells Fargo & Company reissued an outperform rating on shares of Intel Corporation in a research note on Wednesday, August 23rd. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $40.64.
Intel Corporation (NASDAQ INTC) opened at 37.23 on Tuesday. The firm’s 50-day moving average is $35.74 and its 200-day moving average is $35.53. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $38.45. The firm has a market capitalization of $174.94 billion, a P/E ratio of 14.21 and a beta of 1.02.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period last year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts expect that Intel Corporation will post $3.01 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Monday, November 6th. Intel Corporation’s payout ratio is 41.76%.
In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 13,996 shares of Intel Corporation stock in a transaction on Monday, July 31st. The stock was sold at an average price of $35.47, for a total value of $496,438.12. Following the completion of the sale, the insider now owns 1,536 shares of the company’s stock, valued at approximately $54,481.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of Intel Corporation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.40, for a total value of $51,833.60. Following the completion of the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $55,910.40. The disclosure for this sale can be found here. In the last three months, insiders sold 91,921 shares of company stock valued at $3,130,162. Corporate insiders own 0.08% of the company’s stock.
Several institutional investors have recently bought and sold shares of INTC. Watermark Asset Management Inc. bought a new stake in shares of Intel Corporation in the 1st quarter worth $113,000. Acrospire Investment Management LLC increased its holdings in shares of Intel Corporation by 111.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock worth $121,000 after purchasing an additional 1,900 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in shares of Intel Corporation by 53.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after purchasing an additional 1,400 shares in the last quarter. Orrstown Financial Services Inc. increased its holdings in shares of Intel Corporation by 23.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 4,582 shares of the chip maker’s stock worth $155,000 after purchasing an additional 857 shares in the last quarter. Finally, Winfield Associates Inc. increased its holdings in shares of Intel Corporation by 6.0% in the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after purchasing an additional 265 shares in the last quarter. 67.03% of the stock is owned by institutional investors and hedge funds.
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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