Goldman Sachs Group Lowers Intel (INTC) to Sell

Intel (NASDAQ:INTC) was downgraded by investment analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Friday, The Fly reports.

Several other research analysts also recently issued reports on the company. Morningstar set a $65.00 price objective on Intel and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus set a $52.00 price objective on Intel and gave the stock a “neutral” rating in a research report on Thursday. Macquarie set a $60.00 price objective on Intel and gave the stock a “buy” rating in a research report on Thursday. BNP Paribas set a $54.00 price objective on Intel and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wells Fargo & Co set a $58.00 price objective on Intel and gave the stock a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $55.76.

Shares of NASDAQ:INTC opened at $50.14 on Friday. The company has a market cap of $232.51 billion, a PE ratio of 14.49, a PEG ratio of 1.43 and a beta of 1.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.57. Intel has a 12 month low of $34.38 and a 12 month high of $57.60.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 26th. The chip maker reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.05. Intel had a return on equity of 27.33% and a net margin of 20.07%. The firm had revenue of $16.96 billion during the quarter, compared to the consensus estimate of $16.78 billion. During the same period in the previous year, the firm posted $0.72 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. analysts expect that Intel will post 4.13 EPS for the current fiscal year.

In other news, CEO Robert Holmes Swan acquired 5,243 shares of the company’s stock in a transaction dated Monday, July 30th. The stock was acquired at an average cost of $47.69 per share, for a total transaction of $250,038.67. Following the acquisition, the chief executive officer now directly owns 71,672 shares in the company, valued at approximately $3,418,037.68. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven Ralph Rodgers sold 2,213 shares of the company’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $52.43, for a total value of $116,027.59. Following the sale, the executive vice president now owns 23,268 shares of the company’s stock, valued at $1,219,941.24. The disclosure for this sale can be found here. Insiders sold a total of 4,065 shares of company stock valued at $205,200 over the last quarter. 0.03% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in INTC. Elmwood Wealth Management Inc. purchased a new stake in Intel during the 1st quarter worth $110,000. Quad Cities Investment Group LLC purchased a new stake in Intel during the 2nd quarter worth $107,000. Goodman Financial Corp purchased a new stake in Intel during the 4th quarter worth $102,000. Financial Gravity Wealth Inc. purchased a new stake in Intel during the 1st quarter worth $120,000. Finally, Virtue Capital Management LLC purchased a new stake in Intel during the 4th quarter worth $109,000. Institutional investors and hedge funds own 66.93% of the company’s stock.

Intel Company Profile

Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.

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