ValuEngine Upgrades Intel Corporation (INTC) to “Buy”
Intel Corporation (NASDAQ:INTC) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Intel Corporation from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Wednesday, September 6th. Vetr upgraded shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $41.56 price objective on the stock in a research report on Thursday, August 24th. Credit Suisse Group restated an “outperform” rating on shares of Intel Corporation in a research report on Thursday, August 31st. BidaskClub raised shares of Intel Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada reaffirmed a “sell” rating on shares of Intel Corporation in a report on Thursday, August 24th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.51.
Shares of Intel Corporation (INTC) opened at 39.38 on Monday. The company has a market capitalization of $185.05 billion, a price-to-earnings ratio of 15.03 and a beta of 1.07. Intel Corporation has a one year low of $33.23 and a one year high of $39.70. The company’s 50 day moving average is $36.15 and its 200 day moving average is $35.70. Intel Corporation also saw unusually large options trading activity on Monday. Traders acquired 65,675 call options on the stock. This represents an increase of 250% compared to the average volume of 18,768 call options.
Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. Intel Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. Equities research analysts predict that Intel Corporation will post $3.01 earnings per share for the current year.
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In other news, CEO Brian M. Krzanich sold 61,860 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $38.74, for a total transaction of $2,396,456.40. Following the sale, the chief executive officer now directly owns 543,948 shares in the company, valued at approximately $21,072,545.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diane M. Bryant sold 1,639 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $34.65, for a total transaction of $56,791.35. Following the sale, the executive vice president now owns 114,542 shares in the company, valued at $3,968,880.30. The disclosure for this sale can be found here. Insiders have sold 81,608 shares of company stock worth $3,095,110 in the last ninety days. Insiders own 0.08% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC raised its holdings in Intel Corporation by 4,951.1% during the second quarter. Janus Henderson Group PLC now owns 20,455,051 shares of the chip maker’s stock valued at $690,156,000 after acquiring an additional 20,050,088 shares during the period. Capital Research Global Investors lifted its position in shares of Intel Corporation by 9.1% in the second quarter. Capital Research Global Investors now owns 128,581,621 shares of the chip maker’s stock valued at $4,338,344,000 after acquiring an additional 10,744,753 shares in the last quarter. Capital World Investors boosted its stake in shares of Intel Corporation by 5.5% in the second quarter. Capital World Investors now owns 197,750,361 shares of the chip maker’s stock worth $6,672,097,000 after acquiring an additional 10,257,260 shares during the period. Vanguard Group Inc. boosted its stake in shares of Intel Corporation by 2.5% in the second quarter. Vanguard Group Inc. now owns 333,500,073 shares of the chip maker’s stock worth $11,252,292,000 after acquiring an additional 8,087,302 shares during the period. Finally, Glenview Capital Management LLC bought a new position in shares of Intel Corporation in the first quarter worth about $177,881,000. 67.03% of the stock is owned by institutional investors.
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).
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