Intel (NASDAQ:INTC) Downgraded by Bank of America

Bank of America lowered shares of Intel (NASDAQ:INTC) from a neutral rating to an underperform rating in a research report report published on Friday morning, Marketbeat.com reports. Bank of America currently has $23.00 price target on the chip maker’s stock, down from their previous price target of $35.00.

Other equities analysts have also issued research reports about the stock. Susquehanna reduced their price target on shares of Intel from $40.00 to $35.00 and set a neutral rating for the company in a research report on Friday, April 26th. Citigroup reduced their price objective on shares of Intel from $47.50 to $40.00 and set a neutral rating on the stock in a research report on Monday, April 15th. Wells Fargo & Company dropped their target price on shares of Intel from $43.00 to $38.00 and set an equal weight rating on the stock in a report on Friday, April 26th. JPMorgan Chase & Co. dropped their price target on shares of Intel from $37.00 to $35.00 and set an underweight rating on the stock in a research note on Friday, April 26th. Finally, Mizuho lowered their target price on shares of Intel from $55.00 to $45.00 and set a buy rating on the stock in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $32.92.

Intel Stock Down 1.4 %

INTC stock traded down $0.28 during mid-day trading on Friday, hitting $19.83. 102,369,355 shares of the company were exchanged, compared to its average volume of 50,954,605. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market cap of $84.42 billion, a P/E ratio of 20.76, a P/E/G ratio of 17.38 and a beta of 1.05. The firm’s 50 day simple moving average is $31.14 and its 200 day simple moving average is $36.52. Intel has a 1-year low of $19.29 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. On average, sell-side analysts predict that Intel will post 0.07 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Wednesday, August 7th. Intel’s payout ratio is 52.08%.

Institutional Trading of Intel

A number of institutional investors have recently added to or reduced their stakes in INTC. Barrett & Company Inc. increased its position in Intel by 6.1% during the fourth quarter. Barrett & Company Inc. now owns 3,662 shares of the chip maker’s stock worth $184,000 after acquiring an additional 210 shares during the period. Waldron Private Wealth LLC increased its stake in shares of Intel by 0.6% in the 4th quarter. Waldron Private Wealth LLC now owns 41,074 shares of the chip maker’s stock valued at $2,063,000 after acquiring an additional 232 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of Intel by 4.3% in the 4th quarter. Valley National Advisers Inc. now owns 5,974 shares of the chip maker’s stock valued at $300,000 after acquiring an additional 246 shares during the last quarter. Lester Murray Antman dba SimplyRich increased its stake in Intel by 1.1% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 22,179 shares of the chip maker’s stock worth $1,114,000 after purchasing an additional 247 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its stake in Intel by 4.5% during the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock worth $288,000 after purchasing an additional 247 shares in the last quarter. 64.53% of the stock is currently 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.