J P Morgan Chase & Co Reiterates Overweight Rating for Intel Corporation (INTC)
Intel Corporation (NASDAQ:INTC)‘s stock had its “overweight” rating restated by research analysts at J P Morgan Chase & Co in a note issued to investors on Thursday.
Other analysts have also recently issued research reports about the stock. Jefferies Group LLC set a $38.00 price target on shares of Intel Corporation and gave the company a “hold” rating in a research note on Saturday, June 3rd. B. Riley reiterated a “buy” rating and issued a $46.00 price target on shares of Intel Corporation in a research note on Friday, July 28th. Vetr upgraded shares of Intel Corporation from a “buy” rating to a “strong-buy” rating and set a $40.45 price target for the company in a research note on Monday, June 12th. Bank of America Corporation cut shares of Intel Corporation from a “buy” rating to a “neutral” rating and cut their price target for the company from $42.00 to $38.00 in a research note on Wednesday, June 21st. Finally, Summit Redstone reiterated a “hold” rating on shares of Intel Corporation in a research note on Saturday, July 22nd. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.60.
Intel Corporation (INTC) opened at 37.00 on Thursday. The firm’s 50-day moving average is $35.64 and its 200-day moving average is $35.52. The firm has a market cap of $173.86 billion, a price-to-earnings ratio of 14.12 and a beta of 1.02. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $38.45.
Intel Corporation (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. Analysts forecast that Intel Corporation will post $3.01 EPS for the current fiscal year.
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In related news, insider Venkata S. M. Renduchintala sold 1,424 shares of the business’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian M. Krzanich sold 72,173 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the completion of the transaction, the chief executive officer now directly owns 534,746 shares in the company, valued at $18,015,592.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,921 shares of company stock valued at $3,130,162. Company insiders own 0.08% of the company’s stock.
Large investors have recently modified their holdings of the stock. Watermark Asset Management Inc. purchased a new position in shares of Intel Corporation in the 1st quarter worth about $113,000. Acrospire Investment Management LLC boosted its holdings in shares of Intel Corporation by 111.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock worth $121,000 after buying an additional 1,900 shares during the last quarter. Orrstown Financial Services Inc. boosted its holdings in shares of Intel Corporation by 96.6% in the 1st quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after buying an additional 1,830 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Intel Corporation by 53.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares during the last quarter. Finally, Winfield Associates Inc. boosted its holdings in shares of Intel Corporation by 6.0% in the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after buying an additional 265 shares during the last quarter. 67.09% of the stock is currently owned by institutional investors.
About Intel Corporation
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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