Intel (NASDAQ:INTC) Stock Rating Lowered by New Street Research

New Street Research lowered shares of Intel (NASDAQ:INTC) from a buy rating to a neutral rating in a research note released on Friday morning, MarketBeat reports.

INTC has been the topic of several other research reports. Sanford C. Bernstein decreased their target price on Intel from $42.00 to $35.00 and set a market perform rating on the stock in a research note on Friday, April 26th. Evercore ISI cut their target price on shares of Intel from $40.00 to $36.00 and set an in-line rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded shares of Intel from a sell rating to a hold rating in a report on Thursday. Roth Mkm decreased their price objective on shares of Intel from $45.00 to $35.00 and set a neutral rating for the company in a research report on Friday, April 26th. Finally, TD Cowen dropped their target price on Intel from $35.00 to $25.00 and set a hold rating on the stock in a report on Friday. Five investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $32.92.

Intel Price Performance

Shares of NASDAQ:INTC traded down $1.56 during trading on Friday, reaching $19.92. The stock had a trading volume of 110,549,477 shares, compared to its average volume of 50,437,902. Intel has a 1-year low of $19.29 and a 1-year high of $51.28. The stock has a market cap of $84.80 billion, a PE ratio of 20.65, a PEG ratio of 17.38 and a beta of 1.05. The business has a fifty day moving average price of $31.35 and a 200-day moving average price of $36.71. 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 (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.82%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, equities analysts forecast that Intel will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of INTC. Norges Bank acquired a new position in shares of Intel in the 4th quarter valued at $2,424,202,000. Price T Rowe Associates Inc. MD raised 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 during the period. Capital International Investors lifted its stake in 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 acquiring an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Intel by 60.5% during 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 during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of 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 worth $807,757,000 after buying an additional 8,140,835 shares during the period. 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.