Intel (INTC) Raised to “Hold” at ValuEngine
ValuEngine upgraded shares of Intel (NASDAQ:INTC) from a sell rating to a hold rating in a report published on Thursday morning.
INTC has been the topic of a number of other research reports. Macquarie set a $60.00 target price on Intel and gave the stock a buy rating in a research note on Monday, October 29th. Morningstar set a $65.00 target price on Intel and gave the stock a buy rating in a research note on Monday, October 1st. Roth Capital lowered their target price on Intel from $65.00 to $60.00 and set a buy rating on the stock in a research note on Friday, October 26th. BidaskClub downgraded Intel from a hold rating to a sell rating in a research note on Tuesday, August 21st. Finally, Robert W. Baird restated a buy rating and issued a $64.00 target price on shares of Intel in a research note on Tuesday, October 30th. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $55.77.
Intel stock opened at $47.86 on Thursday. The company has a current ratio of 1.51, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. The stock has a market cap of $223.90 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.26 and a beta of 0.91. Intel has a fifty-two week low of $42.04 and a fifty-two week high of $57.60.
Intel declared that its Board of Directors has initiated a share repurchase program on Thursday, November 15th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the chip maker to reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other Intel news, VP Kevin Thomas Mcbride sold 6,500 shares of the stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total transaction of $295,945.00. Following the completion of the transaction, the vice president now owns 14,271 shares of the company’s stock, valued at $649,758.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Holmes Swan bought 5,263 shares of Intel stock in a transaction on Thursday, December 6th. The shares were purchased at an average cost of $46.74 per share, with a total value of $245,992.62. Following the acquisition, the chief executive officer now directly owns 137,102 shares of the company’s stock, valued at $6,408,147.48. The disclosure for this purchase can be found here. Insiders have sold 13,257 shares of company stock valued at $624,095 in the last three months. Insiders own 0.03% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. increased its holdings in shares of Intel by 5.9% in the first quarter. Baird Financial Group Inc. now owns 1,922,881 shares of the chip maker’s stock valued at $100,143,000 after purchasing an additional 106,635 shares during the last quarter. Allen Capital Group LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $211,000. Baxter Bros Inc. increased its holdings in shares of Intel by 11.5% in the second quarter. Baxter Bros Inc. now owns 220,571 shares of the chip maker’s stock valued at $10,965,000 after purchasing an additional 22,783 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Intel by 1.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,297,968 shares of the chip maker’s stock valued at $67,598,000 after purchasing an additional 12,285 shares during the last quarter. Finally, Mutual of Omaha Bank Wealth Management increased its holdings in shares of Intel by 4.2% in the second quarter. Mutual of Omaha Bank Wealth Management now owns 29,713 shares of the chip maker’s stock valued at $1,477,000 after purchasing an additional 1,205 shares during the last quarter. 64.28% of the stock is owned by institutional investors and hedge funds.
Intel Company Profile
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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