Intel (NASDAQ:INTC) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Intel (NASDAQ:INTC) in a research note issued to investors on Friday, Benzinga reports.

Other equities analysts have also recently issued reports about the company. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Finally, HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Intel presently has an average rating of “Hold” and an average target price of $30.12.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $22.52 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel has a 52 week low of $18.51 and a 52 week high of $51.28. The firm’s fifty day moving average is $21.84 and its 200-day moving average is $26.81.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. Research analysts forecast that Intel will post -0.47 EPS for the current fiscal year.

Institutional Trading of Intel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. America First Investment Advisors LLC purchased a new stake in shares of Intel in the 2nd quarter worth about $25,000. Cyrus J. Lawrence LLC bought a new position in Intel in the second quarter worth about $27,000. Spartan Fund Management Inc. purchased a new stake in Intel in the second quarter worth about $31,000. Financial Connections Group Inc. bought a new stake in Intel during the 2nd quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Intel during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Company Profile

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.