Intel Corporation (INTC) Rating Lowered to Hold at Canaccord Genuity

Intel Corporation (NASDAQ:INTC) was downgraded by equities researchers at Canaccord Genuity from a “buy” rating to a “hold” rating in a note issued to investors on Friday. They presently have a $38.00 target price on the chip maker’s stock, down from their prior target price of $43.00. Canaccord Genuity’s price objective points to a potential upside of 6.15% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Vetr raised shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $39.45 price target on the stock in a report on Thursday, November 24th. Deutsche Bank AG restated a “buy” rating and issued a $47.00 price objective on shares of Intel Corporation in a research note on Tuesday, January 24th. Brean Capital restated a “buy” rating on shares of Intel Corporation in a research note on Tuesday, December 13th. RBC Capital Markets restated a “sector perform” rating and issued a $37.00 price objective on shares of Intel Corporation in a research note on Friday, January 27th. Finally, Wells Fargo & Company restated a “top pick” rating and issued a $45.00 price objective on shares of Intel Corporation in a research note on Tuesday, January 3rd. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.30.

Analyst Recommendations for Intel Corporation (NASDAQ:INTC)

Shares of Intel Corporation (NASDAQ:INTC) opened at 35.80 on Friday. The firm has a 50-day moving average of $36.68 and a 200 day moving average of $36.00. Intel Corporation has a 52-week low of $28.36 and a 52-week high of $38.45. The firm has a market capitalization of $169.51 billion, a price-to-earnings ratio of 16.89 and a beta of 1.03.

Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 26th. The chip maker reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The company had revenue of $16.40 billion for the quarter, compared to the consensus estimate of $15.75 billion. Intel Corporation had a net margin of 17.37% and a return on equity of 20.95%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. Analysts predict that Intel Corporation will post $2.78 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 7th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, February 3rd. Intel Corporation’s payout ratio is 49.29%.

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In other news, EVP Venkata S. M. Renduchintala sold 17,755 shares of the business’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $37.13, for a total value of $659,243.15. Following the completion of the transaction, the executive vice president now directly owns 4,247 shares of the company’s stock, valued at approximately $157,691.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Diane M. Bryant sold 11,607 shares of the business’s stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $34.74, for a total value of $403,227.18. Following the completion of the transaction, the executive vice president now directly owns 112,006 shares of the company’s stock, valued at $3,891,088.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 156,637 shares of company stock valued at $5,732,128. Corporate insiders own 0.09% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Intel Corporation by 1.9% in the second quarter. Vanguard Group Inc. now owns 299,534,545 shares of the chip maker’s stock valued at $9,824,733,000 after buying an additional 5,697,051 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Intel Corporation by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 48,281,810 shares of the chip maker’s stock valued at $1,751,339,000 after buying an additional 1,049,817 shares in the last quarter. LSV Asset Management raised its position in shares of Intel Corporation by 0.9% in the third quarter. LSV Asset Management now owns 23,498,805 shares of the chip maker’s stock valued at $887,079,000 after buying an additional 213,200 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Intel Corporation by 5.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 21,342,405 shares of the chip maker’s stock valued at $700,366,000 after buying an additional 1,155,233 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Intel Corporation by 0.9% in the second quarter. Prudential Financial Inc. now owns 14,904,810 shares of the chip maker’s stock valued at $488,878,000 after buying an additional 128,876 shares in the last quarter. 65.90% of the stock is owned by hedge funds and other institutional investors.

Intel Corporation Company Profile

Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.

5 Day Chart for NASDAQ:INTC

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