Since 2008, Intel has grown sales, net income and earnings per share 4.4%, 18% and 20% annually, on average, though, its stock has declined 3% a year over that span. Intel's fourth-quarter net income increased 39% to $3.2 billion, or 59 cents a share, as revenue grew 8.4%, past $11 billion. The gross margin declined marginally to 75%, still remaining near a cyclical high. Its operating margin hovered above 35%, ranking in the 92nd percentile for its industry group. Return on assets widened from 8.2% to 18%, indicating outstanding efficiency improvements.Intel's stock is notably cheap relative to peer investments. It trades at a trailing earnings multiple of 9.7, a forward earnings multiple of 9.2, a book value multiple of 2.2, a sales multiple of 2.5 and a cash flow multiple of 6.6, 52%, 41%, 42%, 29% and 51% discounts to semiconductor peer averages. Its PEG ratio, calculated by dividing the trailing P/E by analysts' terminal earnings growth forecast, at 0.8, reflects a 20% discount to fair value. Intel is now among the highest yielding tech stocks, paying a quarterly dividend of 18 cents, for an annual yield of 3.6%. Credit Suisse ranks Intel "outperform" with a $28 target, suggesting a return of 41%. Roughly 62% of researchers currently rate the stock "buy."