Intel (INTC) Downgraded by Northland Securities

Intel (NASDAQ:INTC) was downgraded by Northland Securities from a “market perform” rating to an “under perform” rating in a research report issued on Tuesday, MarketBeat Ratings reports.

Several other brokerages have also recently issued reports on INTC. Zacks Investment Research raised Intel from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Wednesday, September 26th. BidaskClub cut Intel from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Evercore ISI reaffirmed a “hold” rating on shares of Intel in a report on Sunday, October 28th. Royal Bank of Canada decreased their price objective on Intel from $57.00 to $55.00 and set a “sector perform” rating on the stock in a report on Monday, October 1st. Finally, Cowen upped their price objective on Intel from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, October 26th. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.60.

Shares of INTC opened at $47.75 on Tuesday. The company has a market cap of $223.39 billion, a PE ratio of 13.80, a PEG ratio of 1.25 and a beta of 0.91. Intel has a 1 year low of $42.04 and a 1 year high of $57.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.51.

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

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

In related news, VP Kevin Thomas Mcbride sold 6,500 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total transaction of $295,945.00. Following the completion of the sale, the vice president now directly owns 14,271 shares in the company, valued at approximately $649,758.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the company’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $45.66, for a total value of $102,050.10. Following the sale, the executive vice president now owns 30,324 shares of the company’s stock, valued at $1,384,593.84. 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 over the last 90 days. 0.03% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of INTC. Midwest Professional Planners LTD. increased its holdings in shares of Intel by 10.7% in the first quarter. Midwest Professional Planners LTD. now owns 10,028 shares of the chip maker’s stock valued at $522,000 after purchasing an additional 966 shares during the period. Kingfisher Capital LLC increased its holdings in shares of Intel by 9.6% in the first quarter. Kingfisher Capital LLC now owns 11,090 shares of the chip maker’s stock valued at $578,000 after purchasing an additional 967 shares during the period. Fiduciary Group LLC increased its holdings in shares of Intel by 2.9% in the first quarter. Fiduciary Group LLC now owns 34,165 shares of the chip maker’s stock valued at $1,779,000 after purchasing an additional 969 shares during the period. WealthTrust Fairport LLC increased its holdings in shares of Intel by 2.9% in the first quarter. WealthTrust Fairport LLC now owns 34,782 shares of the chip maker’s stock valued at $1,811,000 after purchasing an additional 971 shares during the period. Finally, Wells Trecaso Financial Group LLC increased its holdings in shares of Intel by 22.0% in the second quarter. Wells Trecaso Financial Group LLC now owns 5,552 shares of the chip maker’s stock valued at $276,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 64.42% of the company’s stock.

About Intel

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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