Rosenblatt Securities Reiterates “Sell” Rating for Intel (NASDAQ:INTC)

Rosenblatt Securities restated their sell rating on shares of Intel (NASDAQ:INTC) in a research report report published on Friday morning, Benzinga reports. They currently have a $17.00 price target on the chip maker’s stock.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a hold rating on shares of Intel in a research report on Friday, January 26th. Wells Fargo & Company lowered their price objective on shares of Intel from $48.00 to $43.00 and set an equal weight rating for the company in a research report on Tuesday, April 9th. Truist Financial reaffirmed a hold rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. Susquehanna lowered their price objective on shares of Intel from $42.00 to $40.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. Finally, Benchmark reissued a buy rating and set a $62.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $39.75.

Intel Price Performance

INTC opened at $31.88 on Friday. The company has a 50-day moving average of $40.88 and a 200-day moving average of $42.23. The company has a market capitalization of $134.79 billion, a P/E ratio of 33.21, a PEG ratio of 3.19 and a beta of 1.00. Intel has a 1-year low of $26.85 and a 1-year high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.15 and a current ratio of 1.54.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.16 billion. Intel had a net margin of 7.36% and a return on equity of 2.22%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. Equities analysts expect that Intel will post 0.6 EPS for the current fiscal year.

Intel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.125 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.57%. Intel’s payout ratio is presently 52.08%.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, for a total transaction of $130,080.00. Following the purchase, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were bought at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Institutional Trading of Intel

Several hedge funds and other institutional investors have recently bought and sold shares of INTC. New Millennium Group LLC grew its position in Intel by 87.2% in the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Intel during the 4th quarter worth about $27,000. Burkett Financial Services LLC bought a new position in shares of Intel during the 4th quarter worth about $27,000. Tributary Capital Management LLC bought a new position in shares of Intel during the 1st quarter worth about $27,000. Finally, Legacy Financial Group LLC bought a new position in shares of Intel during the 3rd quarter worth about $30,000. 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.