Intel Corp. Given Underweight Rating at Evercore Partners (INTC)
Intel Corp. (NASDAQ:INTC)‘s stock had its “underweight” rating reaffirmed by research analysts at Evercore Partners in a report released on Monday, Stock Ratings Network.com reports.
The analysts wrote, “After several days of IDF keynotes and meetings with Intel execs and industry contacts, we come away unchanged in our thesis for several reasons. (1) Current PC trends remain choppy. (2) An attractive Bay Trail platform ought to re-kindle investor concern for Core i3 cannibalization. Even assuming modest share gains, it’s tough to move the EPS needle. (3) LTE schedule remains unchanged – perhaps encouraging in light of BRCM’s recent struggles. (4) We still see risk of pricing / margin pressure in DCG. While simultaneously raising Xeon ASPs, we hear that Intel has aggressively priced Avoton chips ahead of initial ARMpire SOCs. Nonetheless, we expect this effect to intensify over time as more competition will lead to lower ASPs / profits, even if Intel successfully manages to defend share.”
Shares of Intel Corp. (NASDAQ:INTC) opened at 23.61 on Monday. Intel Corp. has a 52-week low of $19.23 and a 52-week high of $25.98. The stock has a 50-day moving average of $22.62 and a 200-day moving average of $22.99. The company has a market cap of $117.6 billion and a price-to-earnings ratio of 12.66. Intel Corp. also was the recipient of unusually large options trading on Friday. Traders acquired 88,118 call options on the stock. This represents an increase of 109% compared to the typical volume of 42,186 call options.
Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.89 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, analysts predict that Intel Corp. will post $1.87 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group upgraded shares of Intel Corp. (NASDAQ:INTC) from a “hold” rating to a “buy” rating in a research note to investors on Friday. They now have a $30.00 price target on the stock, up previously from $27.00. Separately, analysts at ISI Group reiterated a “buy” rating on shares of Intel Corp. (NASDAQ:INTC) in a research note to investors on Thursday. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Intel Corp. (NASDAQ:INTC) in a research note to investors on Tuesday, September 3rd.
Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Intel Corp. currently has a consensus rating of “Hold” and an average price target of $24.43.
In other Intel Corp. news, VP David Perlmutter sold 103,555 shares of the stock on the open market in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.00, for a total value of $2,381,765.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Intel Corporation designs and manufactures integrated digital technology platforms. A platform consists of a microprocessor and chipset.
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