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 research report issued to clients and investors on Tuesday.
According to Zacks, “Intel’s second-quarter 2017 results demonstrated the company’s growing focus on the data-centric part of the business. The recent launch of Xeon Scalable is anticipated to benefit its footprint in the data center as well as AI and IoT space, going forward. 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, which can be attributed to growing competition from AMD in the data center space. We also 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 intensifies competition for Intel. We believe that this is a significant headwind amid declining PC shipments.”
A number of other analysts have also recently commented on the stock. Jefferies Group LLC set a $38.00 price target on shares of Intel Corporation and gave the company a “hold” rating in a research report on Saturday, June 3rd. B. Riley reaffirmed a “buy” rating and set a $44.00 price target on shares of Intel Corporation in a research report on Wednesday, May 3rd. Vetr raised shares of Intel Corporation from a “sell” rating to a “hold” rating and set a $35.44 price target on the stock in a research report on Monday, May 1st. Bank of America Corporation cut shares of Intel Corporation from a “buy” rating to a “neutral” rating and cut their price target for the company from $42.00 to $38.00 in a research report on Wednesday, June 21st. Finally, Summit Redstone reaffirmed a “hold” rating on shares of Intel Corporation in a research report on Saturday, July 22nd. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Intel Corporation presently has an average rating of “Hold” and a consensus target price of $40.58.
Shares of Intel Corporation (NASDAQ INTC) traded down 0.1893% during midday trading on Tuesday, hitting $34.5844. The stock had a trading volume of 8,801,312 shares. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $38.45. The stock has a market capitalization of $162.51 billion, a price-to-earnings ratio of 13.2002 and a beta of 1.01. The stock has a 50 day moving average price of $35.18 and a 200-day moving average price of $35.58.
Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. Intel Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. Equities research analysts anticipate that Intel Corporation will post $3.01 earnings per share for the current year.
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In other Intel Corporation news, CEO Brian M. Krzanich sold 72,173 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 534,746 shares in the company, valued at approximately $18,015,592.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Diane M. Bryant sold 1,639 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $34.65, for a total transaction of $56,791.35. Following the completion of the sale, the executive vice president now owns 114,542 shares of the company’s stock, valued at approximately $3,968,880.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,921 shares of company stock valued at $3,130,162. Company insiders own 0.08% of the company’s stock.
A number of large investors have recently bought and sold shares of INTC. Sigma Planning Corp raised its stake in Intel Corporation by 0.5% in the first quarter. Sigma Planning Corp now owns 64,672 shares of the chip maker’s stock valued at $2,333,000 after buying an additional 335 shares during the period. Park National Corp OH raised its stake in Intel Corporation by 2.3% in the second quarter. Park National Corp OH now owns 831,773 shares of the chip maker’s stock valued at $28,064,000 after buying an additional 18,938 shares during the period. Ronna Sue Cohen raised its stake in Intel Corporation by 1.0% in the second quarter. Ronna Sue Cohen now owns 111,443 shares of the chip maker’s stock valued at $3,760,000 after buying an additional 1,058 shares during the period. GFS Advisors LLC raised its stake in Intel Corporation by 9.2% in the first quarter. GFS Advisors LLC now owns 114,035 shares of the chip maker’s stock valued at $4,114,000 after buying an additional 9,635 shares during the period. Finally, Regentatlantic Capital LLC raised its stake in Intel Corporation by 10.9% in the first quarter. Regentatlantic Capital LLC now owns 495,518 shares of the chip maker’s stock valued at $17,873,000 after buying an additional 48,759 shares during the period. Hedge funds and other institutional investors own 67.07% of the company’s stock.
About Intel Corporation
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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