Intel Corporation (INTC) Rating Reiterated by J P Morgan Chase & Co
Intel Corporation (NASDAQ:INTC)‘s stock had its “overweight” rating reaffirmed by equities researchers at J P Morgan Chase & Co in a report issued on Thursday.
Several other equities analysts also recently commented on the stock. Jefferies Group LLC set a $38.00 target price on shares of Intel Corporation and gave the stock a “hold” rating in a report on Saturday, June 3rd. B. Riley reissued a “buy” rating and issued a $46.00 target price on shares of Intel Corporation in a report on Friday, July 28th. Zacks Investment Research cut shares of Intel Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday. Vetr upgraded shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $40.45 price target on the stock in a research report on Monday, June 12th. Finally, Bank of America Corporation cut shares of Intel Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $42.00 to $38.00 in a research report on Wednesday, June 21st. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $40.60.
Shares of Intel Corporation (NASDAQ:INTC) traded up 0.88% during trading on Thursday, hitting $36.65. 8,527,821 shares of the stock were exchanged. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $38.45. The stock has a market cap of $172.22 billion, a PE ratio of 13.99 and a beta of 1.02. The firm has a 50 day moving average of $35.49 and a 200-day moving average of $35.51.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts anticipate that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
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In related news, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total value of $2,431,508.37. Following the sale, the chief executive officer now owns 534,746 shares of the company’s stock, valued at approximately $18,015,592.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Diane M. Bryant sold 2,119 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $34.68, for a total value of $73,486.92. Following the completion of the sale, the executive vice president now directly owns 108,471 shares in the company, valued at approximately $3,761,774.28. The disclosure for this sale can be found here. In the last three months, insiders sold 91,921 shares of company stock worth $3,130,162. Company insiders own 0.08% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Murphy Capital Management Inc. raised its stake in Intel Corporation by 18.4% during the 2nd quarter. Murphy Capital Management Inc. now owns 31,721 shares of the chip maker’s stock valued at $1,070,000 after acquiring an additional 4,928 shares in the last quarter. Sigma Planning Corp raised its stake in Intel Corporation by 0.5% during the 1st quarter. Sigma Planning Corp now owns 64,672 shares of the chip maker’s stock valued at $2,333,000 after acquiring an additional 335 shares in the last quarter. Pillar Pacific Capital Management LLC raised its stake in Intel Corporation by 0.4% during the 1st quarter. Pillar Pacific Capital Management LLC now owns 235,734 shares of the chip maker’s stock valued at $8,503,000 after acquiring an additional 930 shares in the last quarter. GFS Advisors LLC raised its stake in Intel Corporation by 9.2% during the 1st quarter. GFS Advisors LLC now owns 114,035 shares of the chip maker’s stock valued at $4,114,000 after acquiring an additional 9,635 shares in the last quarter. Finally, Sabal Trust CO raised its stake in Intel Corporation by 3.9% during the 2nd quarter. Sabal Trust CO now owns 636,926 shares of the chip maker’s stock valued at $21,490,000 after acquiring an additional 23,948 shares in the last quarter. 67.09% of the stock is currently owned by institutional investors and hedge funds.
About Intel Corporation
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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