Intel’s (INTC) Sell Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reaffirmed their sell rating on shares of Intel (NASDAQ:INTC) in a report released on Friday morning, Benzinga reports. They currently have a $17.00 price objective on the chip maker’s stock.

Other analysts have also issued research reports about the stock. Evercore ISI lowered their price objective on shares of Intel from $40.00 to $36.00 and set an in-line rating on the stock in a research report on Friday, April 26th. Bank of America lowered shares of Intel from a neutral rating to an underperform rating and lowered their price target for the company from $35.00 to $23.00 in a research report on Friday. Cantor Fitzgerald lowered their price target on shares of Intel from $40.00 to $27.00 and set a neutral rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their price target on shares of Intel from $35.00 to $26.00 and set an underweight rating on the stock in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Intel from $38.00 to $27.00 and set a hold rating on the stock in a research report on Friday. Five investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $33.41.

Intel Stock Performance

Shares of INTC stock opened at $21.48 on Friday. The firm has a market cap of $91.44 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 17.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. Intel has a 52 week low of $20.42 and a 52 week high of $51.28. The firm’s 50-day simple moving average is $31.35 and its two-hundred day simple moving average is $36.85.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.33%. Intel’s dividend payout ratio is presently 52.08%.

Institutional Investors Weigh In On Intel

A number of institutional investors have recently made changes to their positions in INTC. Norges Bank purchased a new stake in shares of Intel in the 4th quarter valued at $2,424,202,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after purchasing an additional 31,575,084 shares in the last quarter. Capital International Investors boosted its stake in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after purchasing an additional 13,035,566 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after buying an additional 8,140,835 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.