Intel (NASDAQ:INTC) Downgraded by Loop Capital to “Sell”

Loop Capital downgraded shares of Intel (NASDAQ:INTC) from a hold rating to a sell rating in a research note issued to investors on Friday morning, Benzinga reports. Loop Capital currently has $59.00 target price on the chip maker’s stock, up from their previous target price of $50.00.

Other analysts have also issued research reports about the company. Wells Fargo & Co raised their target price on Intel from $55.00 to $58.00 and gave the company a market perform rating in a report on Friday, October 25th. UBS Group raised their price objective on Intel from $60.00 to $75.00 and gave the stock a buy rating in a research report on Friday. Barclays raised their price objective on Intel from $40.00 to $42.00 and gave the stock an underweight rating in a research report on Friday, October 25th. Morgan Stanley raised their price objective on Intel from $65.00 to $66.00 and gave the stock an overweight rating in a research report on Wednesday, December 18th. Finally, Robert W. Baird raised their price objective on Intel from $65.00 to $70.00 and gave the stock an outperform rating in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $65.00.

INTC traded down $1.82 during midday trading on Friday, reaching $66.65. The company’s stock had a trading volume of 8,206,986 shares, compared to its average volume of 21,879,158. The stock has a market cap of $297.84 billion, a P/E ratio of 14.12, a PEG ratio of 1.81 and a beta of 0.91. The company has a fifty day simple moving average of $59.25 and a 200 day simple moving average of $53.65. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.33. Intel has a twelve month low of $42.86 and a twelve month high of $69.29.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 23rd. The chip maker reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.27. The firm had revenue of $20.20 billion for the quarter, compared to analyst estimates of $19.23 billion. Intel had a return on equity of 29.01% and a net margin of 29.25%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. Sell-side analysts expect that Intel will post 5.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 7th will be paid a $0.33 dividend. This is a boost from Intel’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, February 6th. Intel’s dividend payout ratio (DPR) is 25.87%.

Intel announced that its board has approved a stock buyback plan on Thursday, October 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the chip maker to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

In other news, Director Frank D. Yeary sold 2,509 shares of Intel stock in a transaction on Friday, November 1st. The stock was sold at an average price of $56.34, for a total value of $141,357.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank D. Yeary sold 12,545 shares of Intel stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $60.35, for a total value of $757,090.75. The disclosure for this sale can be found here. Insiders sold a total of 81,284 shares of company stock valued at $4,517,194 over the last three months. Insiders own 0.02% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Usca Ria LLC grew its stake in shares of Intel by 1.6% during the fourth quarter. Usca Ria LLC now owns 191,253 shares of the chip maker’s stock worth $11,447,000 after purchasing an additional 3,004 shares during the period. Paragon Wealth Strategies LLC grew its stake in shares of Intel by 7.2% during the fourth quarter. Paragon Wealth Strategies LLC now owns 12,956 shares of the chip maker’s stock worth $775,000 after purchasing an additional 868 shares during the period. TCI Wealth Advisors Inc. grew its stake in shares of Intel by 3.2% during the fourth quarter. TCI Wealth Advisors Inc. now owns 32,836 shares of the chip maker’s stock worth $1,965,000 after purchasing an additional 1,015 shares during the period. Transform Wealth LLC grew its stake in shares of Intel by 6.5% during the fourth quarter. Transform Wealth LLC now owns 80,658 shares of the chip maker’s stock worth $4,827,000 after purchasing an additional 4,915 shares during the period. Finally, Fulton Bank N.A. grew its stake in shares of Intel by 4.8% during the fourth quarter. Fulton Bank N.A. now owns 99,845 shares of the chip maker’s stock worth $5,976,000 after purchasing an additional 4,597 shares during the period. 65.37% of the stock is owned by institutional investors and hedge funds.

Intel Company Profile

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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Analyst Recommendations for Intel (NASDAQ:INTC)

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