Intel Corporation (INTC) Stock Rating Upgraded by Zacks Investment Research
Intel Corporation (NASDAQ:INTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $40.00 price objective on the chip maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.67% from the stock’s current price.
According to Zacks, “Intel’s second-quarter 2017 results demonstrated the company’s growing focus on the data-centric part of the business. The recent launch of Xeon Scalable is anticipated to benefit its footprint in the data center as well as AI and IoT space, going forward. Further, anticipated improvement in cost structure and lower spending, primarily due to improving operational efficiency will aid in expansion of margins going forward. Additionally, aggressive share buyback will boost the bottom line in 2017. However, we note that Intel has underperformed the industry on a year-to-date basis, which can be attributed to growing competition from AMD in the data center space. We also note that the top-PC makers like HP, Lenovo, and Asus are set to launch PCs based on Qualcomm’s ARM-based Snapdragon processor, which intensifies competition for Intel. We believe that this is a significant headwind amid declining PC shipments.”
Other research analysts have also issued reports about the company. Jefferies Group LLC lowered Intel Corporation to a “hold” rating and upped their price target for the stock from $36.00 to $38.00 in a report on Friday, April 28th. B. Riley reiterated a “buy” rating and set a $44.00 price target on shares of Intel Corporation in a report on Friday, April 28th. Sanford C. Bernstein reiterated a “sell” rating and set a $30.00 price target on shares of Intel Corporation in a report on Tuesday, May 2nd. Vetr lowered Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.97 price target for the company. in a report on Wednesday, August 2nd. Finally, BidaskClub upgraded Intel Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have given a buy rating to the company. Intel Corporation currently has an average rating of “Hold” and an average target price of $40.55.
Intel Corporation (NASDAQ:INTC) traded down 0.9897% during mid-day trading on Thursday, hitting $35.4556. 8,155,015 shares of the stock were exchanged. The company has a 50-day moving average price of $35.02 and a 200-day moving average price of $35.67. The company has a market cap of $166.61 billion, a P/E ratio of 13.5327 and a beta of 1.01. Intel Corporation has a one year low of $33.23 and a one year high of $38.45.
Intel Corporation (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The firm had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the company earned $0.59 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts predict that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
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In related news, insider Venkata S. M. Renduchintala sold 1,424 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.40, for a total transaction of $51,833.60. Following the completion of the transaction, the insider now directly owns 1,536 shares in the company, valued at $55,910.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $35.47, for a total value of $496,438.12. Following the transaction, the insider now owns 1,536 shares of the company’s stock, valued at $54,481.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,921 shares of company stock valued at $3,130,162. 0.09% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Watermark Asset Management Inc. bought a new position in Intel Corporation during the first quarter worth $113,000. Acrospire Investment Management LLC increased its position in Intel Corporation by 111.8% in the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock worth $121,000 after buying an additional 1,900 shares in the last quarter. Orrstown Financial Services Inc. increased its position in Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after buying an additional 1,830 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Intel Corporation by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares in the last quarter. Finally, Winfield Associates Inc. increased its position in Intel Corporation by 6.0% in the second quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after buying an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.
Intel Corporation Company Profile
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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