Intel (NASDAQ:INTC) had its target price boosted by equities research analysts at Cascend Securities from $65.00 to $75.00 in a research note issued to investors on Wednesday, Briefing.com Automated Import reports. The firm currently has a “buy” rating on the chip maker’s stock. Cascend Securities’ target price would indicate a potential upside of 10.02% from the company’s previous close.

A number of other brokerages have also recently weighed in on INTC. Wells Fargo & Co raised their price target on Intel from $55.00 to $58.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. ValuEngine upgraded shares of Intel from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Barclays boosted their price objective on shares of Intel from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Jefferies Financial Group raised shares of Intel from an “underperform” rating to a “hold” rating and increased their price objective for the company from $40.00 to $64.00 in a research note on Tuesday. Finally, Morgan Stanley raised their target price on shares of Intel from $65.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Intel has a consensus rating of “Hold” and an average price target of $63.59.

Shares of INTC traded up $4.85 on Wednesday, reaching $68.17. The stock had a trading volume of 69,311,895 shares, compared to its average volume of 16,784,590. The firm has a market capitalization of $272.88 billion, a PE ratio of 16.00, a PEG ratio of 1.77 and a beta of 0.91. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $59.00 and a 200 day moving average of $53.55. Intel has a twelve month low of $42.86 and a twelve month high of $62.85.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 23rd. The chip maker reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.27. The firm had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $19.23 billion. Intel had a return on equity of 28.28% and a net margin of 27.46%. Intel’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 earnings per share. On average, sell-side analysts anticipate that Intel will post 4.61 earnings per share for the current fiscal year.

Intel declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the chip maker to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

In related news, Chairman Andy D. Bryant sold 46,932 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $58.24, for a total value of $2,733,319.68. Following the completion of the transaction, the chairman now directly owns 425,491 shares in the company, valued at $24,780,595.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Navin Shenoy sold 1,404 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.94, for a total value of $78,539.76. Following the completion of the transaction, the executive vice president now owns 58,168 shares of the company’s stock, valued at $3,253,917.92. The disclosure for this sale can be found here. Insiders sold a total of 81,284 shares of company stock valued at $4,517,194 over the last quarter. 0.02% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Kanawha Capital Management LLC increased its position in Intel by 1.6% during the second quarter. Kanawha Capital Management LLC now owns 320,181 shares of the chip maker’s stock worth $15,327,000 after purchasing an additional 5,112 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Intel by 29.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 33,712 shares of the chip maker’s stock worth $1,614,000 after buying an additional 7,604 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Intel by 125.9% during the 2nd quarter. Victory Capital Management Inc. now owns 821,608 shares of the chip maker’s stock worth $39,330,000 after buying an additional 457,920 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Intel by 41.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 27,085 shares of the chip maker’s stock worth $1,210,000 after buying an additional 7,953 shares during the period. Finally, Covington Capital Management raised its position in shares of Intel by 2.9% in the 2nd quarter. Covington Capital Management now owns 443,264 shares of the chip maker’s stock worth $21,219,000 after buying an additional 12,302 shares during the period. 65.48% of the stock is currently owned by hedge funds and other institutional investors.

About Intel

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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Analyst Recommendations for Intel (NASDAQ:INTC)

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