Intel (INTC) Stock Down After Mixed Q2 Results
NEW YORK (TheStreet) -- Shares of Intel (INTC) - Get Report are falling by 4.76% to $33.99 in afternoon trading on Thursday, after the Santa Clara, CA-based technology company posted mixed fiscal 2016 second quarter results after yesterday's closing bell.
For the quarter, Intel reported earnings of 59 cents per share on revenue of $13.53 billion. Analysts surveyed by Thomson Reuters expected earnings of 53 cents per share on revenue of $13.54 billion.
Last year, the company posted earnings of 55 cents per share on revenue of $13.2 billion.
"While we remain cautious on the PC market, we're forecasting growth in 2016 built on strength in data center, the Internet of Things and programmable solutions," Intel CEO Brian Krzanich said in a statement.
Additionally, KeyBanc raised its price target on Intel to $38 from $37 on Thursday morning.
Despite the company's weak Data Center Group sales in relation to KeyBanc's estimates, the company's Client Computing Group sales exceeded expectations, the firm said in an analyst note.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate INTEL CORP as a Buy with a ratings score of B+. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, reasonable valuation levels and increase in net income. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: INTC
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