Intel (INTC) Given a $53.00 Price Target by BNP Paribas Analysts
Intel (NASDAQ:INTC) has been assigned a $53.00 price target by equities researchers at BNP Paribas in a note issued to investors on Tuesday. The brokerage presently has a “neutral” rating on the chip maker’s stock. BNP Paribas’ price objective indicates a potential upside of 10.99% from the stock’s current price.
A number of other equities analysts also recently commented on INTC. Zacks Investment Research upgraded Intel from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Monday, October 29th. Stifel Nicolaus reiterated a “neutral” rating and issued a $52.00 price target on shares of Intel in a research note on Thursday, August 9th. Sanford C. Bernstein set a $42.00 price target on Intel and gave the stock a “sell” rating in a research note on Thursday, August 9th. Barclays cut shares of Intel from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $62.00 to $53.00 in a report on Monday, August 6th. Finally, Morgan Stanley reissued a “neutral” rating and issued a $56.00 target price on shares of Intel in a report on Thursday, August 9th. Six analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nineteen have given a buy rating to the stock. Intel presently has an average rating of “Hold” and an average price target of $55.60.
NASDAQ:INTC opened at $47.75 on Tuesday. The stock has a market capitalization of $223.39 billion, a P/E ratio of 13.80, a PEG ratio of 1.25 and a beta of 0.91. Intel has a one year low of $42.04 and a one year high of $57.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.51 and a quick ratio of 1.13.
Intel declared that its board has initiated a stock buyback program on Thursday, November 15th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the chip maker to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other Intel news, EVP Navin Shenoy sold 4,522 shares of Intel stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $50.00, for a total value of $226,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Steven Ralph Rodgers sold 2,235 shares of Intel stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $45.66, for a total transaction of $102,050.10. Following the completion of the transaction, the executive vice president now owns 30,324 shares in the company, valued at approximately $1,384,593.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,257 shares of company stock worth $624,095. 0.03% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Intel by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 358,346,977 shares of the chip maker’s stock valued at $16,946,229,000 after buying an additional 2,892,357 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Intel by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 51,466,042 shares of the chip maker’s stock valued at $2,558,294,000 after purchasing an additional 559,856 shares during the last quarter. LSV Asset Management lifted its stake in shares of Intel by 0.7% in the 3rd quarter. LSV Asset Management now owns 25,251,096 shares of the chip maker’s stock valued at $1,194,124,000 after purchasing an additional 186,641 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Intel by 3.1% in the 3rd quarter. Fisher Asset Management LLC now owns 24,155,799 shares of the chip maker’s stock valued at $1,142,328,000 after purchasing an additional 720,022 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Intel by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,077,912 shares of the chip maker’s stock valued at $760,324,000 after purchasing an additional 363,376 shares during the last quarter. Hedge funds and other institutional investors own 64.42% of the company’s stock.
Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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