Intel Corporation (NASDAQ:INTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage presently has a $41.00 target price on the chip maker’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.81% from the stock’s current price.

According to Zacks, “Intel’s growing focus on the data-centric part of the business is positive. The launch of Xeon Scalable is anticipated to improve its footprint in the data center as well as AI space, going forward. The company recently unveiled Myriad X, which will boost footprint in the IoT space. Moreover, the recent Core 8 launch will boost PC market share amid intensifying competition from AMD. We note that the top-PC makers like HP, Lenovo, and Asus are set to launch PCs based on Qualcomm’s ARM-based Snapdragon processor, which is a headwind for the company. Further, anticipated improvement in cost structure and lower spending, primarily due to improving operational efficiency will aid in expansion of margins going forward. Additionally, aggressive share buyback will boost the bottom line in 2017. However, we note that Intel has underperformed the industry on a year-to-date basis. Moreover, declining PC-shipments is a concern.”

A number of other research firms also recently issued reports on INTC. Vetr downgraded Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.97 price objective on the stock. in a research note on Wednesday, August 2nd. B. Riley reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Intel Corporation in a research note on Wednesday, August 2nd. BidaskClub raised Intel Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “hold” rating on shares of Intel Corporation in a research note on Wednesday, August 9th. Finally, Sanford C. Bernstein set a $30.00 price objective on Intel Corporation and gave the stock a “sell” rating in a research note on Tuesday, August 15th. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $40.60.

Shares of Intel Corporation (INTC) opened at 37.00 on Thursday. The firm has a 50-day moving average price of $35.64 and a 200 day moving average price of $35.52. The stock 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 released its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. On average, analysts forecast that Intel Corporation will post $3.01 EPS for the current fiscal year.

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In other Intel Corporation news, CEO Brian M. Krzanich sold 72,173 shares of the stock in a transaction that occurred on 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 owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 1,424 shares of the 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 91,921 shares of company stock valued at $3,130,162 in the last three months. Insiders own 0.08% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Murphy Capital Management Inc. raised its holdings in shares of Intel Corporation by 18.4% during the second quarter. Murphy Capital Management Inc. now owns 31,721 shares of the chip maker’s stock valued at $1,070,000 after acquiring an additional 4,928 shares during the last quarter. Sigma Planning Corp raised its holdings in shares of Intel Corporation by 0.5% during the first quarter. Sigma Planning Corp now owns 64,672 shares of the chip maker’s stock valued at $2,333,000 after acquiring an additional 335 shares during the last quarter. Pillar Pacific Capital Management LLC raised its holdings in shares of Intel Corporation by 0.4% during the first quarter. Pillar Pacific Capital Management LLC now owns 235,734 shares of the chip maker’s stock valued at $8,503,000 after acquiring an additional 930 shares during the last quarter. GFS Advisors LLC raised its holdings in shares of Intel Corporation by 9.2% during the first quarter. GFS Advisors LLC now owns 114,035 shares of the chip maker’s stock valued at $4,114,000 after acquiring an additional 9,635 shares during the last quarter. Finally, Princeton Alpha Management LP acquired a new position in shares of Intel Corporation during the first quarter valued at approximately $384,000. 67.09% of the stock is owned by institutional investors and hedge funds.

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).

Analyst Recommendations for Intel Corporation (NASDAQ:INTC)

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