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

Intel (NASDAQ:INTC)‘s stock had its “sell” rating reissued by analysts at Rosenblatt Securities in a report issued on Tuesday, Benzinga reports. They currently have a $17.00 target price on the chip maker’s stock. Rosenblatt Securities’ price target indicates a potential downside of 26.18% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Susquehanna reduced their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Argus downgraded Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, UBS Group lowered their target price on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Intel presently has an average rating of “Hold” and an average target price of $30.80.

Intel Trading Up 0.5 %

NASDAQ INTC traded up $0.11 during trading on Tuesday, hitting $23.03. The stock had a trading volume of 5,892,526 shares, compared to its average volume of 58,257,285. Intel has a one year low of $18.51 and a one year high of $51.28. The stock has a 50 day simple moving average of $21.65 and a 200 day simple moving average of $27.28. The stock has a market capitalization of $98.04 billion, a price-to-earnings ratio of 23.99 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. Sell-side analysts predict that Intel will post -0.47 earnings per share for the current year.

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INTC. Valley National Advisers Inc. grew its holdings in Intel by 5.5% in the first quarter. Valley National Advisers Inc. now owns 6,304 shares of the chip maker’s stock valued at $278,000 after purchasing an additional 330 shares during the period. Norden Group LLC increased its holdings in Intel by 1,827.3% in the 1st quarter. Norden Group LLC now owns 217,380 shares of the chip maker’s stock worth $9,602,000 after acquiring an additional 206,101 shares in the last quarter. Massachusetts Wealth Management raised its position in Intel by 32.7% during the first quarter. Massachusetts Wealth Management now owns 10,318 shares of the chip maker’s stock worth $456,000 after acquiring an additional 2,542 shares during the period. Advisor Resource Council lifted its holdings in Intel by 579.1% during the first quarter. Advisor Resource Council now owns 32,326 shares of the chip maker’s stock valued at $1,428,000 after purchasing an additional 27,566 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in shares of Intel by 10.7% in the first quarter. First Trust Direct Indexing L.P. now owns 98,005 shares of the chip maker’s stock valued at $4,329,000 after purchasing an additional 9,457 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

About Intel

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.