Intel (NASDAQ:INTC) Receives “Underperform” Rating from Bank of America

Intel (NASDAQ:INTC)‘s stock had its “underperform” rating reissued by equities researchers at Bank of America in a research note issued on Tuesday,Benzinga reports. They presently have a $21.00 target price on the chip maker’s stock. Bank of America‘s target price would suggest a potential downside of 7.16% from the stock’s previous close.

Several other analysts also recently commented on INTC. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. TD Cowen upgraded Intel to a “hold” rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group lowered their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.04.

Intel Trading Down 5.5 %

NASDAQ INTC traded down $1.31 during trading on Tuesday, hitting $22.62. 59,908,503 shares of the company’s stock traded hands, compared to its average volume of 60,337,711. The stock has a fifty day moving average of $23.50 and a two-hundred day moving average of $25.80. Intel has a 12-month low of $18.51 and a 12-month high of $51.28. The firm has a market cap of $97.56 billion, a P/E ratio of -6.08 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. As a group, sell-side analysts expect that Intel will post -0.87 EPS for the current year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. America First Investment Advisors LLC acquired a new stake in shares of Intel during the second quarter worth $25,000. Cyrus J. Lawrence LLC bought a new position in Intel in the second quarter worth about $27,000. Spartan Fund Management Inc. acquired a new position in Intel in the second quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new position in shares of Intel during the second quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Intel during the 2nd quarter worth approximately $33,000. 64.53% of the stock is currently owned by institutional investors.

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.