Benchmark Reaffirms “Hold” Rating for Intel (NASDAQ:INTC)

Benchmark reissued their hold rating on shares of Intel (NASDAQ:INTC) in a report issued on Friday, Benzinga reports.

Several other brokerages also recently commented on INTC. Wedbush cut their target price on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Susquehanna cut their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price target (down from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, UBS Group decreased their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six investment 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.12.

Intel Stock Down 2.9 %

Shares of NASDAQ:INTC opened at $22.52 on Friday. 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 has a 52-week low of $18.51 and a 52-week high of $51.28. The firm has a market capitalization of $96.30 billion, a P/E ratio of -6.05 and a beta of 1.03. The stock has a 50 day moving average price of $21.84 and a 200-day moving average price of $26.81.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the firm earned $0.28 EPS. The company’s revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Intel will post -0.47 EPS for the current fiscal year.

Institutional Trading of Intel

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after acquiring an additional 3,310,528 shares in the last quarter. Capital International Investors boosted its position in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after purchasing an additional 1,697,550 shares in the last quarter. Van ECK Associates Corp grew its stake in Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after buying an additional 9,422,136 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after buying an additional 2,457,243 shares during the last quarter. 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.