Goldman Sachs Group Downgrades Intel (INTC) to Sell

Goldman Sachs Group downgraded shares of Intel (NASDAQ:INTC) from a neutral rating to a sell rating in a research note published on Friday morning, MarketBeat Ratings reports. They currently have $44.00 price objective on the chip maker’s stock, down from their previous price objective of $49.00.

Several other research analysts have also recently weighed in on the company. Bank of America cut Intel from a buy rating to a neutral rating and cut their price objective for the stock from $62.00 to $56.00 in a research report on Friday, July 27th. Morgan Stanley boosted their price objective on Intel from $55.00 to $56.00 and gave the stock a neutral rating in a research report on Friday, July 27th. Macquarie reissued a buy rating and issued a $58.00 price objective on shares of Intel in a research report on Thursday, April 12th. Sanford C. Bernstein reissued a sell rating and issued a $38.00 price objective on shares of Intel in a research report on Tuesday, April 24th. Finally, Citigroup boosted their price objective on Intel from $58.00 to $60.00 and gave the stock a buy rating in a research report on Tuesday, April 24th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Intel currently has an average rating of Hold and a consensus price target of $55.55.

INTC stock opened at $48.45 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.57. Intel has a 1-year low of $34.38 and a 1-year high of $57.60. The firm has a market capitalization of $228.54 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.41 and a beta of 1.00.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 26th. The chip maker reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.05. Intel had a return on equity of 27.33% and a net margin of 20.07%. The business had revenue of $16.96 billion for the quarter, compared to analysts’ expectations of $16.78 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. research analysts predict that Intel will post 4.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Tuesday, August 7th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, August 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.48%. Intel’s payout ratio is 34.68%.

In related news, CEO Robert Holmes Swan acquired 5,243 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The shares were bought at an average cost of $47.69 per share, for a total transaction of $250,038.67. Following the purchase, the chief executive officer now owns 71,672 shares in the company, valued at approximately $3,418,037.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven Ralph Rodgers sold 2,213 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $52.43, for a total value of $116,027.59. Following the sale, the executive vice president now owns 23,268 shares in the company, valued at $1,219,941.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,065 shares of company stock worth $205,200. 0.03% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in INTC. TIAA CREF Investment Management LLC raised its stake in shares of Intel by 47.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 23,711,209 shares of the chip maker’s stock valued at $1,094,509,000 after purchasing an additional 7,669,737 shares during the period. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Intel during the 2nd quarter valued at $204,242,000. Renaissance Technologies LLC raised its stake in shares of Intel by 3,222.2% during the 4th quarter. Renaissance Technologies LLC now owns 3,441,594 shares of the chip maker’s stock valued at $158,864,000 after purchasing an additional 3,338,000 shares during the period. Platinum Investment Management Ltd. raised its stake in shares of Intel by 192.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 4,712,431 shares of the chip maker’s stock valued at $245,423,000 after purchasing an additional 3,098,600 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Intel by 14.7% during the 4th quarter. Alliancebernstein L.P. now owns 24,187,824 shares of the chip maker’s stock valued at $1,116,510,000 after purchasing an additional 3,095,697 shares during the period. Institutional investors own 66.74% of the company’s stock.

About Intel

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.

Further Reading: Stock Symbols Definition, Examples, Lookup

Analyst Recommendations for Intel (NASDAQ:INTC)

Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply