Intel (NASDAQ:INTC) Receives "Hold" Rating from Needham & Company LLC

Key Points

• Needham & Company LLC has restated Intel's stock rating as "hold," aligning with recent ratings from other analysts, indicating a cautious outlook on the company's performance.
• Despite a quarterly revenue increase of 0.5%, Intel reported a loss of ($0.10) EPS, falling short of the expected earnings, and has a current consensus price target of $22.25.
• After recent price target adjustments, Intel's stock is currently down 3.7% and has a market capitalization of approximately $98.71 billion.

Needham & Company LLC reaffirmed their hold rating on shares of Intel (NASDAQ:INTC - Free Report) in a report published on Friday morning,Benzinga reports.

A number of other brokerages have also recently commented on INTC. Seaport Res Ptn raised Intel to a "strong sell" rating in a report on Wednesday, April 30th. Cfra Research raised Intel to a "hold" rating in a report on Friday, April 25th. JPMorgan Chase & Co. dropped their price target on Intel from $23.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Morgan Stanley reduced their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Finally, Stifel Nicolaus upped their price objective on Intel from $21.00 to $24.50 and gave the stock a "hold" rating in a report on Monday, July 21st. Six analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.30.

Intel Stock Performance

Intel stock traded up $0.03 during trading hours on Friday, hitting $20.73. 54,785,418 shares of the stock traded hands, compared to its average volume of 93,707,117. Intel has a 1 year low of $17.67 and a 1 year high of $31.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92. The stock has a market capitalization of $90.40 billion, a price-to-earnings ratio of -4.34 and a beta of 1.15. The firm's 50 day moving average price is $21.64 and its 200-day moving average price is $21.51.

Intel (NASDAQ:INTC - Get Free Report) last issued its earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The company had revenue of $12.86 billion during the quarter, compared to analysts' expectations of $11.88 billion. During the same quarter in the previous year, the company earned $0.02 EPS. The firm's quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts expect that Intel will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Intel by 2.2% in the first quarter. Vanguard Group Inc. now owns 377,390,437 shares of the chip maker's stock valued at $8,570,537,000 after acquiring an additional 8,291,233 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock worth $1,909,761,000 after buying an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intel by 8.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock valued at $1,268,430,000 after buying an additional 4,793,927 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Intel by 0.3% in the first quarter. Northern Trust Corp now owns 45,969,843 shares of the chip maker's stock valued at $1,043,975,000 after acquiring an additional 158,288 shares in the last quarter. Finally, Invesco Ltd. raised its position in Intel by 1.3% during the first quarter. Invesco Ltd. now owns 43,651,076 shares of the chip maker's stock worth $991,316,000 after acquiring an additional 562,246 shares during the last quarter. 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.