A generic image of stock metrics
Markets

Intel Downgraded to “Sell” at Goldman Sachs (INTC)

Computer processor maker Intel Corporation ( INTC ) on Thursday saw its rating and price target cut by analysts at Goldman Sachs.

The firm said it downgraded INTC from "Neutral" to "Sell" and lowered its price target from $21 to $20. That new target suggests a potential 16% downside to the stock's Wednesday closing price of $23.88.

Goldman said it made the move based on Intel's valuation and possibility of excess supply of its computer chips. The analyst noted it believes that stock's 22% jump in the past month is unjustified, since the company faces supply, competitive, and capital expenditure headwinds.

Intel shares fell 54 cents, or -2.3%, in premarket trading Thursday.

The Bottom Line

We have been recommending shares of Intel ( INTC ) since Apr.8, 2011, when the stock was trading at $20.03. The company has a 3.52% dividend yield, based on last night's closing stock price of $23.88.

Intel Corporation ( INTC ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

INTC

Other Topics

Stocks

Latest Markets Videos