Intel (NASDAQ:INTC) Upgraded by Daiwa America to “Hold”

Daiwa America upgraded shares of Intel (NASDAQ:INTC) to a hold rating in a report issued on Monday morning, Zacks.com reports.

Other analysts also recently issued research reports about the company. Morgan Stanley lowered their price objective on Intel from $36.00 to $25.00 and set an equal weight rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group decreased their price objective on shares of Intel from $29.00 to $22.00 and set a sell rating on the stock in a research report on Friday, August 2nd. New Street Research cut Intel from a buy rating to a neutral rating in a research note on Friday, August 2nd. Cantor Fitzgerald lowered their price target on Intel from $40.00 to $27.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com cut Intel from a hold rating to a sell rating in a research note on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $32.04.

Intel Stock Down 2.3 %

INTC stock opened at $19.61 on Monday. Intel has a 1-year low of $18.84 and a 1-year high of $51.28. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The stock has a market cap of $83.48 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05. The company’s 50 day moving average is $27.63 and its 200 day moving average is $33.66.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.82%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. Sell-side analysts predict that Intel will post 0.07 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.55%. Intel’s payout ratio is currently 52.08%.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several institutional investors and hedge funds have recently made changes to their positions in INTC. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of Intel during the fourth quarter worth about $297,000. DDFG Inc purchased a new stake in Intel in the fourth quarter valued at $205,000. Cary Street Partners Asset Management LLC grew its position in Intel by 3.8% during the 4th quarter. Cary Street Partners Asset Management LLC now owns 11,329 shares of the chip maker’s stock worth $569,000 after purchasing an additional 413 shares during the period. Howe & Rusling Inc. raised its stake in shares of Intel by 1.8% during the 4th quarter. Howe & Rusling Inc. now owns 29,402 shares of the chip maker’s stock valued at $1,477,000 after buying an additional 531 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC grew its holdings in Intel by 0.6% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 68,431 shares of the chip maker’s stock worth $3,439,000 after acquiring an additional 390 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

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.