Intel (NASDAQ:INTC) Downgraded to Hold at Argus

Argus cut shares of Intel (NASDAQ:INTC) from a buy rating to a hold rating in a report published on Tuesday, MarketBeat.com reports.

A number of other analysts have also recently weighed in on INTC. Roth Mkm dropped their target price on shares of Intel from $35.00 to $25.00 and set a neutral rating on the stock in a report on Friday, August 2nd. Truist Financial lowered their price target on shares of Intel from $33.00 to $25.00 and set a hold rating for the company in a research report on Friday, August 2nd. StockNews.com upgraded shares of Intel from a sell rating to a hold rating in a research report on Thursday, August 1st. HSBC lowered shares of Intel from a hold rating to a reduce rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Intel from $38.00 to $27.00 and set a hold rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $32.04.

Intel Stock Performance

Shares of NASDAQ:INTC traded down $0.78 on Tuesday, reaching $19.71. 76,394,546 shares of the company’s stock were exchanged, compared to its average volume of 51,828,367. The firm has a market capitalization of $83.91 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 17.38 and a beta of 1.05. Intel has a fifty-two week low of $18.84 and a fifty-two week high of $51.28. The business’s 50-day moving average is $30.28 and its two-hundred day moving average is $35.89. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company posted ($0.05) earnings per share. As a group, equities research analysts forecast that Intel will post 0.07 EPS for the current year.

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Insider Buying and Selling at Intel

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Institutional Trading of Intel

A number of hedge funds have recently made changes to their positions in the stock. America First Investment Advisors LLC acquired a new position in Intel in the second quarter worth approximately $25,000. Frazier Financial Advisors LLC acquired a new position in Intel in the fourth quarter worth approximately $27,000. Burkett Financial Services LLC acquired a new position in Intel in the fourth quarter worth approximately $27,000. Tributary Capital Management LLC acquired a new position in Intel in the first quarter worth approximately $27,000. Finally, Spartan Fund Management Inc. acquired a new position in Intel in the second quarter worth approximately $31,000. 64.53% of the stock is 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.