Northland Securities Downgrades Intel (INTC) to Under Perform

Northland Securities cut shares of Intel (NASDAQ:INTC) from a market perform rating to an under perform rating in a report issued on Tuesday morning, MarketBeat Ratings reports.

INTC has been the subject of a number of other reports. Morningstar set a $65.00 price target on Intel and gave the company a buy rating in a report on Monday, October 1st. Morgan Stanley downgraded Intel from an equal rating to a weight rating in a report on Monday, October 1st. BidaskClub downgraded Intel from a hold rating to a sell rating in a report on Friday, September 7th. Nomura reiterated a neutral rating and issued a $50.00 price target on shares of Intel in a report on Friday, August 10th. Finally, Macquarie set a $60.00 price target on Intel and gave the company a buy rating in a report on Sunday, September 30th. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have issued a buy rating to the company. Intel currently has a consensus rating of Hold and a consensus target price of $55.60.

Shares of NASDAQ INTC opened at $46.24 on Tuesday. Intel has a twelve month low of $42.04 and a twelve month high of $57.60. The company has a quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $226.29 billion, a PE ratio of 13.36, a PEG ratio of 1.27 and a beta of 0.91.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.25. Intel had a return on equity of 29.64% and a net margin of 21.91%. The business had revenue of $19.16 billion during the quarter, compared to the consensus estimate of $18.11 billion. On average, equities analysts forecast that Intel will post 4.53 EPS for the current year.

Intel declared that its Board of Directors has initiated a share buyback program on Thursday, November 15th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the chip maker to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 6th. This represents a $1.20 dividend on an annualized basis and a yield of 2.60%. Intel’s dividend payout ratio (DPR) is presently 34.68%.

In other Intel news, EVP Steven Ralph Rodgers sold 2,235 shares of the business’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $45.66, for a total transaction of $102,050.10. Following the completion of the transaction, the executive vice president now owns 30,324 shares in the company, valued at approximately $1,384,593.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Navin Shenoy sold 4,522 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $50.00, for a total value of $226,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,257 shares of company stock valued at $624,095 in the last quarter. 0.03% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in INTC. Quad Cities Investment Group LLC acquired a new stake in shares of Intel in the second quarter valued at $107,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Intel by 375.2% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,533 shares of the chip maker’s stock valued at $120,000 after buying an additional 2,000 shares during the period. Ironwood Financial llc lifted its holdings in shares of Intel by 429.0% in the third quarter. Ironwood Financial llc now owns 2,645 shares of the chip maker’s stock valued at $125,000 after buying an additional 2,145 shares during the period. WP Advisors LLC acquired a new stake in shares of Intel in the second quarter valued at $137,000. Finally, Arlington Partners LLC acquired a new stake in shares of Intel in the third quarter valued at $151,000. Institutional investors own 64.42% of the company’s stock.

Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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