Intel’s (INTC) “Underperform” Rating Reaffirmed at Bank of America

Bank of America reissued their underperform rating on shares of Intel (NASDAQ:INTC) in a research note released on Tuesday morning,Benzinga reports. They currently have a $21.00 price target on the chip maker’s stock.

INTC has been the subject of several other research reports. The Goldman Sachs Group decreased their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Northland Securities decreased their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Stock Down 6.1 %

Shares of Intel stock opened at $22.47 on Tuesday. The firm has a market cap of $96.91 billion, a PE ratio of -6.04 and a beta of 1.05. The business’s 50 day simple moving average is $23.50 and its 200 day simple moving average is $25.73. 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.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the business earned $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts predict that Intel will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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. 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 at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of institutional investors and hedge funds have recently made changes to their positions in INTC. Harbor Capital Advisors Inc. lifted its position in shares of Intel by 3.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 51,999 shares of the chip maker’s stock worth $1,610,000 after buying an additional 1,738 shares during the last quarter. Aprio Wealth Management LLC boosted its stake in shares of Intel by 5.6% in the 2nd quarter. Aprio Wealth Management LLC now owns 9,990 shares of the chip maker’s stock valued at $309,000 after purchasing an additional 532 shares in the last quarter. CX Institutional grew its holdings in shares of Intel by 28.9% during the 2nd quarter. CX Institutional now owns 22,691 shares of the chip maker’s stock valued at $703,000 after purchasing an additional 5,091 shares during the last quarter. First Financial Corp IN increased its position in Intel by 8.0% during the 2nd quarter. First Financial Corp IN now owns 13,566 shares of the chip maker’s stock worth $420,000 after purchasing an additional 1,001 shares in the last quarter. Finally, Cambridge Advisors Inc. lifted its stake in Intel by 2.4% in the 2nd quarter. Cambridge Advisors Inc. now owns 17,025 shares of the chip maker’s stock valued at $527,000 after purchasing an additional 393 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

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.