Intel (NASDAQ:INTC)‘s stock had its “sell” rating reaffirmed by equities researchers at Bank of America in a report issued on Friday, TipRanks reports. They presently have a $62.00 price target on the chip maker’s stock. Bank of America‘s target price would indicate a potential upside of 7.64% from the company’s previous close.
Several other research analysts also recently weighed in on the stock. Truist Financial boosted their target price on shares of Intel from $64.00 to $73.00 in a research note on Wednesday, March 24th. Oppenheimer reissued a “hold” rating on shares of Intel in a research note on Friday, January 22nd. Credit Suisse Group set a $80.00 price objective on shares of Intel and gave the company a “buy” rating in a research note on Wednesday, April 21st. Cowen upped their price objective on shares of Intel from $75.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, January 22nd. Finally, KeyCorp upped their price objective on shares of Intel from $82.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, January 22nd. Twelve analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $63.59.
INTC stock traded up $0.41 during trading on Friday, hitting $57.60. The stock had a trading volume of 440,311 shares, compared to its average volume of 34,935,660. The company’s 50 day moving average price is $63.00 and its two-hundred day moving average price is $55.55. Intel has a 1-year low of $43.61 and a 1-year high of $68.49. The stock has a market cap of $232.59 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.63 and a beta of 0.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.24 and a current ratio of 1.66.
Intel (NASDAQ:INTC) last announced its earnings results on Wednesday, April 21st. The chip maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.24. Intel had a net margin of 28.10% and a return on equity of 29.44%. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $17.97 billion. During the same quarter in the previous year, the company posted $1.45 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that Intel will post 4.89 earnings per share for the current fiscal year.
In other Intel news, Director Dion J. Weisler bought 4,464 shares of Intel stock in a transaction dated Tuesday, May 4th. The stock was bought at an average cost of $56.00 per share, for a total transaction of $249,984.00. Following the purchase, the director now owns 4,464 shares in the company, valued at approximately $249,984. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 2,842 shares of the company’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $57.83, for a total value of $164,352.86. Corporate insiders own 0.04% of the company’s stock.
Several hedge funds have recently bought and sold shares of INTC. OLD Mission Capital LLC acquired a new stake in shares of Intel during the 3rd quarter valued at approximately $727,000. HGK Asset Management Inc. raised its position in shares of Intel by 23.6% during the 4th quarter. HGK Asset Management Inc. now owns 82,863 shares of the chip maker’s stock valued at $4,128,000 after acquiring an additional 15,807 shares in the last quarter. Carroll Financial Associates Inc. raised its position in shares of Intel by 7.0% during the 4th quarter. Carroll Financial Associates Inc. now owns 46,412 shares of the chip maker’s stock valued at $2,312,000 after acquiring an additional 3,034 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Intel by 100.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 433,800 shares of the chip maker’s stock valued at $21,612,000 after acquiring an additional 217,800 shares in the last quarter. Finally, NuWave Investment Management LLC raised its position in shares of Intel by 400.0% during the 4th quarter. NuWave Investment Management LLC now owns 1,205 shares of the chip maker’s stock valued at $60,000 after acquiring an additional 964 shares in the last quarter. 63.25% of the stock is currently owned by institutional investors and hedge funds.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices for retail, industrial, and consumer uses worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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