Intel Corporation (INTC) Upgraded to Strong-Buy by Vetr Inc.
Intel Corporation (NASDAQ:INTC) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $44.36 target price on the chip maker’s stock. Vetr‘s target price suggests a potential upside of 12.88% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Credit Suisse Group restated an “outperform” rating on shares of Intel Corporation in a research report on Thursday, August 31st. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of Intel Corporation in a research report on Wednesday, July 12th. BidaskClub cut shares of Intel Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Robert W. Baird restated an “outperform” rating and issued a $45.00 price target on shares of Intel Corporation in a research report on Tuesday, September 5th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $40.75.
Shares of Intel Corporation (INTC) traded down 0.88% during mid-day trading on Wednesday, hitting $39.30. 30,754,708 shares of the company were exchanged. The company’s 50-day moving average price is $36.89 and its 200-day moving average price is $35.88. Intel Corporation has a 12-month low of $33.23 and a 12-month high of $39.95. The firm has a market capitalization of $184.67 billion, a P/E ratio of 15.00 and a beta of 1.07.
Intel Corporation (NASDAQ:INTC) last released its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. Equities research analysts predict 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 61,860 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $38.74, for a total value of $2,396,456.40. Following the transaction, the chief executive officer now owns 543,948 shares in the company, valued at approximately $21,072,545.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Diane M. Bryant sold 1,639 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $34.65, for a total transaction of $56,791.35. Following the completion of the transaction, the executive vice president now owns 114,542 shares in the company, valued at approximately $3,968,880.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,608 shares of company stock worth $3,095,110. Company insiders own 0.08% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Watermark Asset Management Inc. bought a new position in Intel Corporation during the 1st quarter valued at about $113,000. Acrospire Investment Management LLC lifted its stake in Intel Corporation by 111.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after acquiring an additional 1,900 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in Intel Corporation by 53.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after acquiring an additional 1,400 shares during the period. Orrstown Financial Services Inc. lifted its stake in Intel Corporation by 23.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 4,582 shares of the chip maker’s stock valued at $155,000 after acquiring an additional 857 shares during the period. Finally, Winfield Associates Inc. lifted its stake in Intel Corporation by 6.0% during the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock valued at $156,000 after acquiring an additional 265 shares during the period. Institutional investors own 67.02% 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).
To view Vetr’s full report, visit Vetr’s official website.
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