Benchmark Reiterates Hold Rating for Intel (NASDAQ:INTC)

Intel (NASDAQ:INTC)‘s stock had its “hold” rating restated by equities researchers at Benchmark in a research report issued on Friday,Benzinga reports.

A number of other equities analysts have also recently issued reports on INTC. JPMorgan Chase & Co. lowered their target price on Intel from $23.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, April 25th. Wedbush reduced their price target on Intel from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Barclays reaffirmed a “reduce” rating on shares of Intel in a research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intel in a research report on Wednesday, May 21st. They set a “hold” rating and a $23.00 target price on the stock. Finally, Morgan Stanley reduced their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. Six research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus price target of $22.30.

Intel Trading Down 8.5%

Shares of Intel stock opened at $20.70 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Intel has a 12-month low of $17.67 and a 12-month high of $31.56. The company has a market capitalization of $90.29 billion, a price-to-earnings ratio of -4.34 and a beta of 1.15. The firm’s 50-day moving average price is $21.64 and its two-hundred day moving average price is $21.50.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.11). The business had revenue of $12.86 billion for the quarter, compared to analyst estimates of $11.88 billion. Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. Intel’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $0.02 EPS. On average, analysts forecast that Intel will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NorthRock Partners LLC lifted its holdings in Intel by 9.1% during the second quarter. NorthRock Partners LLC now owns 54,742 shares of the chip maker’s stock worth $1,227,000 after acquiring an additional 4,572 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Intel by 1.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 376,962 shares of the chip maker’s stock valued at $8,444,000 after purchasing an additional 5,000 shares during the last quarter. Total Clarity Wealth Management Inc. raised its stake in shares of Intel by 15.1% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 45,177 shares of the chip maker’s stock worth $1,012,000 after purchasing an additional 5,914 shares during the period. Vest Financial LLC raised its stake in shares of Intel by 39.3% during the 2nd quarter. Vest Financial LLC now owns 56,636 shares of the chip maker’s stock worth $1,269,000 after purchasing an additional 15,967 shares during the period. Finally, Prostatis Group LLC boosted its holdings in shares of Intel by 2.1% in the 2nd quarter. Prostatis Group LLC now owns 44,766 shares of the chip maker’s stock worth $1,003,000 after buying an additional 902 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

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.