Intel (NASDAQ:INTC) Receives Hold Rating from Benchmark

Benchmark restated their hold rating on shares of Intel (NASDAQ:INTC) in a research note published on Monday morning, Benzinga reports.

INTC has been the topic of a number of other research reports. TD Cowen raised Intel to a hold rating in a report on Monday, September 16th. New Street Research downgraded Intel from a buy rating to a neutral rating in a research note on Friday, August 2nd. Daiwa America upgraded Intel to a hold rating in a research note on Monday, August 26th. Susquehanna lowered their price objective on shares of Intel from $35.00 to $26.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. Finally, Truist Financial dropped their price objective on shares of Intel from $33.00 to $25.00 and set a hold rating on the stock in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $32.04.

Intel Stock Up 3.3 %

Shares of NASDAQ INTC opened at $22.56 on Monday. The business has a 50-day moving average price of $23.43 and a 200 day moving average price of $30.64. The stock has a market cap of $96.04 billion, a PE ratio of 23.50 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter last year, the business posted ($0.05) earnings per share. The business’s revenue was down .8% on a year-over-year basis. Equities research analysts forecast that Intel will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.22%. Intel’s dividend payout ratio is presently 52.08%.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several hedge funds have recently modified their holdings of INTC. Price T Rowe Associates Inc. MD lifted its stake in shares of Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock valued at $1,878,572,000 after buying an additional 31,575,084 shares during the period. Capital International Investors boosted its holdings in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers increased its stake in Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in Intel during the second quarter worth about $162,592,000. 64.53% of the stock is 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.