Vetr Inc. Downgrades Intel Corporation (NASDAQ:INTC) to Buy
Intel Corporation (NASDAQ:INTC) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday. They presently have a $40.26 price objective on the chip maker’s stock. Vetr‘s target price points to a potential upside of 10.03% from the company’s previous close.
INTC has been the subject of several other research reports. Zacks Investment Research cut Intel Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. BidaskClub raised Intel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Credit Suisse Group set a $35.00 target price on Intel Corporation and gave the stock a “hold” rating in a research note on Saturday, July 29th. Macquarie reaffirmed an “outperform” rating and set a $40.00 target price on shares of Intel Corporation in a research note on Friday, July 14th. Finally, Mizuho reaffirmed a “buy” rating and set a $42.00 target price on shares of Intel Corporation in a research note on Tuesday, April 11th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $40.55.
Intel Corporation (INTC) opened at 36.59 on Tuesday. The firm has a market capitalization of $171.94 billion, a price-to-earnings ratio of 13.97 and a beta of 1.01. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $38.45. The stock’s 50 day moving average price is $34.64 and its 200 day moving average price is $35.74.
Intel Corporation (NASDAQ:INTC) last released its earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The business had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts anticipate that Intel Corporation will post $3.01 earnings per share for the current fiscal year.
In other Intel Corporation news, CFO Robert Holmes Swan purchased 13,888 shares of the stock in a transaction on Monday, June 5th. The stock was acquired at an average price of $36.31 per share, with a total value of $504,273.28. Following the transaction, the chief financial officer now directly owns 8,774 shares of the company’s stock, valued at approximately $318,583.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.40, for a total value of $51,833.60. Following the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $55,910.40. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock valued at $3,130,162 in the last ninety days. 0.09% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Guardian Trust Co. raised its position in Intel Corporation by 13.0% in the fourth quarter. Capital Guardian Trust Co. now owns 62,985 shares of the chip maker’s stock worth $2,284,000 after buying an additional 7,255 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Intel Corporation by 4.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 10,735,473 shares of the chip maker’s stock worth $389,376,000 after buying an additional 417,669 shares during the last quarter. Bridgeworth LLC acquired a new position in Intel Corporation during the fourth quarter worth approximately $320,000. CAMG Solamere Management LLC acquired a new position in Intel Corporation during the fourth quarter worth approximately $3,119,000. Finally, Biegel & Waller LLC acquired a new position in Intel Corporation during the fourth quarter worth approximately $252,000. 67.50% of the stock is owned by institutional investors and hedge funds.
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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