Intel (NASDAQ:INTC) Downgraded by Hsbc Global Res to Moderate Sell

Hsbc Global Res cut shares of Intel (NASDAQ:INTC) from a hold rating to a moderate sell rating in a report released on Friday, Zacks.com reports.

Several other brokerages have also recently issued reports on INTC. TD Cowen cut their price objective on Intel from $35.00 to $25.00 and set a hold rating on the stock in a research note on Friday. Benchmark cut Intel from a buy rating to a hold rating in a research note on Friday. New Street Research downgraded shares of Intel from a buy rating to a neutral rating in a research report on Friday. Wolfe Research upgraded shares of Intel from an underperform rating to a peer perform rating in a research note on Thursday, May 16th. Finally, Raymond James lowered Intel from an outperform rating to a market perform rating in a report on Friday. Five research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $32.92.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $20.11 on Friday. The company has a market cap of $85.61 billion, a P/E ratio of 20.95, a PEG ratio of 17.38 and a beta of 1.05. Intel has a one year low of $19.29 and a one year high of $51.28. The business’s 50-day simple moving average is $31.35 and its 200 day simple moving average is $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 announced 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). Intel had a net margin of 1.77% and a return on equity of 1.82%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter last year, the company posted ($0.05) earnings per share. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. On average, sell-side analysts forecast that Intel will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, August 7th. Intel’s payout ratio is presently 52.08%.

Hedge Funds Weigh In On Intel

A number of hedge funds have recently modified their holdings of the stock. Burkett Financial Services LLC bought a new stake in Intel during the fourth quarter worth approximately $27,000. Frazier Financial Advisors LLC acquired a new stake in Intel during the fourth quarter valued at approximately $27,000. Tributary Capital Management LLC bought a new stake in shares of Intel in the 1st quarter valued at approximately $27,000. Signature Resources Capital Management LLC acquired a new position in shares of Intel in the 4th quarter worth approximately $37,000. Finally, Bare Financial Services Inc bought a new stake in shares of Intel in the 4th quarter worth about $39,000. 64.53% of the stock is owned by institutional investors and hedge funds.

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.