RBC Capital analyst Mitch Steves maintained a Sell rating on Intel (INTC) yesterday and set a price target of $40.00. The company’s shares closed last Wednesday at $56.95.
According to TipRanks.com, Steves is a top 25 analyst with an average return of 35.7% and a 81.1% success rate. Steves covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Dialog Semiconductor, and Texas Instruments.
Currently, the analyst consensus on Intel is a Hold with an average price target of $54.15, representing a -9.0% downside. In a report issued on December 29, Rosenblatt Securities also maintained a Sell rating on the stock.
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Based on Intel’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $18.33 billion and net profit of $4.28 billion. In comparison, last year the company earned revenue of $19.19 billion and had a net profit of $5.99 billion.
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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other. The CCG segment consists of platforms designed for notebooks, 2-in-1 systems, desktops, tablets, phones, wireless and wired connectivity products, and mobile communication components. The DCG segment includes workload-optimized platforms and related products designed for enterprise, cloud, and communication infrastructure market. The IOTG segment offers compute solutions for targeted verticals and embedded applications for the retail, manufacturing, health care, energy, automotive, and government market segments. The NSG segment constitutes of NAND flash memory products primarily used in solid-state drives. The PSG segment contains programmable semiconductors and related products for a broad range of markets, including communications, data center, industrial, military, and automotive. The All Other segment consists of results from other non-reportable segment and corporate-related charges. The company was founded by Robert Norton Noyce and Gordon Earle Moore on July 18, 1968 and is headquartered in Santa Clara, CA.