Bank of America Reiterates Underperform Rating for Intel (NASDAQ:INTC)

Intel (NASDAQ:INTC)‘s stock had its “underperform” rating restated by stock analysts at Bank of America in a note issued to investors on Tuesday,Benzinga reports. They presently have a $21.00 price objective on the chip maker’s stock. Bank of America‘s price objective indicates a potential downside of 4.37% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Northland Securities reduced their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.04.

Intel Trading Down 2.3 %

Shares of INTC opened at $21.96 on Tuesday. The stock has a fifty day moving average price of $23.47 and a two-hundred day moving average price of $25.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a market cap of $94.71 billion, a price-to-earnings ratio of -5.90 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for 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 company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. Analysts predict that Intel will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intel

A number of large investors have recently modified their holdings of INTC. Van ECK Associates Corp boosted its holdings in shares of Intel by 60.5% in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Intel by 224.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Davis Selected Advisers boosted its holdings in shares of Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Institutional investors and hedge funds 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.