Rosenblatt Securities Reiterates Sell Rating on Intel

Rosenblatt Securities has reiterated its "sell" rating for Intel Corporation (NASDAQ: INTC) in a report released on Tuesday. The report sets a price target of $17.00 for the shares of this well-known chip manufacturer. This price target suggests a potential decline of approximately 26.18% from Intel's recent closing price.

Other investment analysts have also weighed in on Intel's stock. For instance, Susquehanna recently lowered their price target from $35.00 to $26.00 while maintaining a "neutral" rating. Similarly, JPMorgan Chase & Co. adjusted their target price downward from $35.00 to $26.00, categorizing the stock as "underweight." In addition, HSBC changed their stance on Intel, moving from a "hold" rating to a "reduce" rating.

Furthermore, Argus downgraded Intel from a "buy" rating to a "hold" rating, and UBS Group has reduced their target from $37.00 to $32.00 while retaining a "neutral" outlook. Currently, six analysts have assigned a sell rating to Intel, whereas twenty-four analysts maintain a hold rating and one has assigned a buy rating. According to MarketBeat, Intel currently has an average rating of "Hold" along with an average target price of $30.80.

Recent Trading Activity

On Tuesday, Intel's stock showed slight upward movement, trading up 0.5% to reach $23.03. The trading volume was reported at 5,892,526 shares, substantially lower than the average volume of 58,257,285 shares. Over the past year, Intel's stock has fluctuated, hitting a low of $18.51 and peaking at $51.28. The 50-day simple moving average stands at $21.65, while the 200-day average is at $27.28. Intel has a market capitalization of approximately $98.04 billion and a price-to-earnings ratio of 23.99.

Quarterly Earnings Performance

Intel recently released its quarterly earnings, revealing that it generated an earnings per share (EPS) of $0.02, falling short of analysts' expectations of $0.10. The company's revenue for the quarter was $12.80 billion, slightly below the consensus estimate of $12.92 billion. On a year-over-year basis, Intel's revenue encountered a small decline of 0.8%. Analysts predict that Intel will report an EPS of -0.47 for the current year.

Insider Transactions

In insider trading news, Intel's CEO, Patrick P. Gelsinger, acquired 12,500 shares of the company on August 5 at an average price of $20.16 per share, totaling an amount of $252,000. Following this purchase, Gelsinger’s total ownership in Intel rose slightly to 37,975 shares, valued at approximately $765,576. Insiders currently hold about 0.04% of Intel's shares.

Institutional Investors

Several institutional investors and hedge funds have been actively trading Intel's stock. For instance, Valley National Advisers Inc. increased its holdings by 5.5% during the first quarter, while Norden Group LLC dramatically raised its stake by 1,827.3%. Additionally, Massachusetts Wealth Management and Advisor Resource Council also made significant increases in their positions in Intel during the same period. Currently, institutional investors and hedge funds control about 64.53% of Intel’s stock.

About Intel Corporation

Intel Corporation specializes in designing, developing, manufacturing, marketing, and selling computing-related products globally. The company's operations are divided into various segments, including Client Computing Group and Data Center and AI. Their diverse product portfolio features central processing units (CPUs), graphics processing units (GPUs), and memory products, among others.

Intel, Rating, Stocks