Intel (NASDAQ:INTC) Receives “Sell” Rating from Sanford C. Bernstein

Intel (NASDAQ:INTC)‘s stock had its “sell” rating reaffirmed by investment analysts at Sanford C. Bernstein in a research report issued on Tuesday, AR Network reports. They presently have a $45.00 price target on the chip maker’s stock. Sanford C. Bernstein’s target price would indicate a potential downside of 16.50% from the stock’s previous close.

A number of other brokerages also recently weighed in on INTC. Bank of America downgraded Intel from a “buy” rating to a “neutral” rating and lowered their price target for the company from $70.00 to $62.00 in a report on Friday, July 24th. Loop Capital reduced their price objective on Intel from $59.00 to $50.00 and set a “sell” rating for the company in a research report on Friday, July 24th. Wells Fargo & Company reduced their price objective on Intel from $60.00 to $55.00 in a research report on Friday, July 24th. SVB Leerink assumed coverage on Intel in a research report on Friday, July 24th. They set a “hold” rating for the company. Finally, Citigroup restated a “hold” rating and set a $58.00 price objective on shares of Intel in a research report on Tuesday, June 23rd. Eleven equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Intel presently has a consensus rating of “Hold” and an average price target of $61.24.

Shares of NASDAQ INTC traded down $0.69 during trading on Tuesday, reaching $53.89. The stock had a trading volume of 1,007,918 shares, compared to its average volume of 29,742,875. Intel has a one year low of $43.63 and a one year high of $69.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.58 and a current ratio of 1.97. The stock has a market cap of $232.13 billion, a PE ratio of 9.99, a P/E/G ratio of 1.48 and a beta of 0.72. The firm’s 50 day moving average price is $51.05 and its two-hundred day moving average price is $55.53.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 23rd. The chip maker reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.12. Intel had a return on equity of 31.55% and a net margin of 29.97%. The business had revenue of $19.73 billion during the quarter, compared to the consensus estimate of $18.54 billion. During the same period in the previous year, the business earned $1.06 EPS. On average, research analysts expect that Intel will post 4.86 earnings per share for the current year.

In other news, VP Kevin Thomas Mcbride sold 4,400 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $49.28, for a total transaction of $216,832.00. Following the sale, the vice president now directly owns 14,214 shares of the company’s stock, valued at $700,465.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Navin Shenoy sold 2,847 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $48.18, for a total value of $137,168.46. Following the sale, the executive vice president now directly owns 71,807 shares in the company, valued at $3,459,661.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,491 shares of company stock valued at $365,878. Insiders own 0.04% of the company’s stock.

Several institutional investors have recently made changes to their positions in INTC. Public Employees Retirement Association of Colorado raised its position in shares of Intel by 4.1% during the first quarter. Public Employees Retirement Association of Colorado now owns 824,718 shares of the chip maker’s stock worth $44,634,000 after purchasing an additional 32,604 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of Intel by 9.7% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 4,090,372 shares of the chip maker’s stock worth $221,371,000 after purchasing an additional 361,025 shares during the period. Morgan Stanley raised its position in shares of Intel by 3.8% during the first quarter. Morgan Stanley now owns 30,413,363 shares of the chip maker’s stock worth $1,645,971,000 after purchasing an additional 1,108,810 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Intel by 802.2% during the first quarter. Tower Research Capital LLC TRC now owns 6,604 shares of the chip maker’s stock worth $357,000 after purchasing an additional 5,872 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in Intel during the first quarter valued at $394,000. 64.41% of the stock is currently owned by institutional investors.

About Intel

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

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Analyst Recommendations for Intel (NASDAQ:INTC)

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