Intel Corporation (INTC) Stock Rating Lowered by Zacks Investment Research
Intel Corporation (NASDAQ:INTC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Intel’s growing focus on the data-centric part of the business is positive. The launch of Xeon Scalable is anticipated to improve its footprint in the data center as well as AI space, going forward. The company recently unveiled Myriad X, which will boost footprint in the IoT space. Moreover, the recent Core 8 launch will boost PC market share amid intensifying competition from AMD. We note that the top-PC makers like HP, Lenovo, and Asus are set to launch PCs based on Qualcomm’s ARM-based Snapdragon processor, which is a headwind for the company. Further, anticipated improvement in cost structure and lower spending, primarily due to improving operational efficiency will aid in expansion of margins going forward. Additionally, aggressive share buyback will boost the bottom line in 2017. However, we note that Intel has underperformed the industry on a year-to-date basis. Moreover, declining PC-shipments is a concern.”
A number of other research analysts have also issued reports on INTC. B. Riley restated a “buy” rating and set a $46.00 target price on shares of Intel Corporation in a research report on Friday, July 28th. BidaskClub upgraded shares of Intel Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Vetr lowered shares of Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 price target on the stock. in a research report on Tuesday, August 8th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Intel Corporation in a research report on Thursday, September 14th. Finally, Jefferies Group LLC set a $38.00 price target on shares of Intel Corporation and gave the stock a “hold” rating in a research report on Saturday, June 3rd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $40.54.
Intel Corporation (INTC) opened at 37.07 on Tuesday. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The company has a market cap of $174.19 billion, a PE ratio of 14.15 and a beta of 1.02. The stock has a 50 day moving average of $35.74 and a 200-day moving average of $35.53.
Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Intel Corporation will post $3.01 earnings per share for the current year.
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In other news, CEO Brian M. Krzanich sold 72,173 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $33.69, for a total value of $2,431,508.37. Following the sale, the chief executive officer now owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the completion of the sale, the insider now directly owns 1,536 shares in the company, valued at approximately $54,481.92. The disclosure for this sale can be found here. In the last three months, insiders sold 91,921 shares of company stock worth $3,130,162. Insiders own 0.08% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of INTC. Janus Henderson Group PLC grew its stake in Intel Corporation by 4,951.1% during the second quarter. Janus Henderson Group PLC now owns 20,455,051 shares of the chip maker’s stock valued at $690,156,000 after acquiring an additional 20,050,088 shares in the last quarter. Capital Research Global Investors grew its stake in Intel Corporation by 9.1% during the second quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock valued at $4,338,344,000 after acquiring an additional 10,744,753 shares in the last quarter. Capital World Investors grew its stake in Intel Corporation by 5.5% during the second quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock valued at $6,672,097,000 after acquiring an additional 10,257,260 shares in the last quarter. Vanguard Group Inc. grew its stake in Intel Corporation by 2.5% during the second quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock valued at $11,252,292,000 after acquiring an additional 8,087,302 shares in the last quarter. Finally, Glenview Capital Management LLC purchased a new position in Intel Corporation during the first quarter valued at approximately $177,881,000. 67.03% of the stock is currently owned by institutional investors.
Intel Corporation Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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