Intel (INTC) Stock Rating Lowered by BidaskClub

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Intel (NASDAQ:INTC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday.

A number of other brokerages have also issued reports on INTC. Northland Securities lowered Intel from a “market perform” rating to an “under perform” rating in a report on Tuesday, December 4th. ValuEngine upgraded Intel from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. BNP Paribas set a $53.00 price target on Intel and gave the company a “neutral” rating in a report on Tuesday, December 4th. UBS Group lowered Intel from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. Finally, DZ Bank lowered Intel from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Thursday, November 29th. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $55.17.

Shares of INTC traded up $0.37 during mid-day trading on Thursday, reaching $48.93. 21,599,317 shares of the company’s stock traded hands, compared to its average volume of 25,416,422. The stock has a market cap of $224.61 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.25 and a beta of 0.85. Intel has a 12 month low of $42.04 and a 12 month high of $57.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.51.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 25th. The chip maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.25. The firm had revenue of $19.16 billion for the quarter, compared to analysts’ expectations of $18.11 billion. Intel had a return on equity of 29.64% and a net margin of 21.91%. As a group, analysts predict that Intel will post 4.53 earnings per share for the current fiscal year.

Intel announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 15th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the chip maker to buy up to 6.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In related news, VP Kevin Thomas Mcbride sold 6,500 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the transaction, the vice president now directly owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the company’s stock in a transaction on Friday, October 26th. The shares were sold at an average price of $45.66, for a total value of $102,050.10. Following the completion of the transaction, the executive vice president now directly owns 30,324 shares in the company, valued at $1,384,593.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,809 shares of company stock valued at $1,033,992. Company insiders own 0.03% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tortoise Investment Management LLC increased its position in shares of Intel by 86.7% in the 3rd quarter. Tortoise Investment Management LLC now owns 1,249 shares of the chip maker’s stock valued at $59,000 after acquiring an additional 580 shares during the period. Quad Cities Investment Group LLC acquired a new position in shares of Intel in the 2nd quarter valued at $107,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Intel by 375.2% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,533 shares of the chip maker’s stock valued at $120,000 after acquiring an additional 2,000 shares during the period. Highwater Wealth Management LLC acquired a new position in shares of Intel in the 4th quarter valued at $125,000. Finally, Ironwood Financial llc increased its position in shares of Intel by 429.0% in the 3rd quarter. Ironwood Financial llc now owns 2,645 shares of the chip maker’s stock valued at $125,000 after acquiring an additional 2,145 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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