Barclays PLC Reaffirms “Buy” Rating for Intel Corporation (INTC)
Intel Corporation (NASDAQ:INTC)‘s stock had its “buy” rating reiterated by research analysts at Barclays PLC in a note issued to investors on Monday. They presently have a $55.00 target price on the chip maker’s stock. Barclays PLC’s price target suggests a potential upside of 20.25% from the stock’s previous close.
Several other brokerages have also recently commented on INTC. Stifel Nicolaus reissued a “buy” rating and set a $50.00 target price on shares of Intel Corporation in a report on Wednesday, November 1st. Canaccord Genuity boosted their target price on Intel Corporation from $38.00 to $41.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Sanford C. Bernstein set a $34.00 target price on Intel Corporation and gave the stock a “sell” rating in a report on Friday, October 27th. BMO Capital Markets raised Intel Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $43.00 target price on shares of Intel Corporation in a report on Friday, October 27th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $43.28.
Shares of Intel Corporation (INTC) traded up $0.16 during trading hours on Monday, reaching $45.74. The company had a trading volume of 10,348,952 shares, compared to its average volume of 23,496,832. Intel Corporation has a 1 year low of $33.23 and a 1 year high of $47.30. The company has a market capitalization of $213,310.00, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.27 and a current ratio of 1.60.
Intel Corporation (NASDAQ:INTC) last announced its earnings results on Thursday, October 26th. The chip maker reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.21. Intel Corporation had a return on equity of 22.65% and a net margin of 22.31%. The firm had revenue of $16.15 billion for the quarter, compared to analysts’ expectations of $15.73 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. equities analysts predict that Intel Corporation will post 3.25 earnings per share for the current fiscal year.
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In other news, insider Venkata S. M. Renduchintala sold 1,424 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $46.73, for a total transaction of $66,543.52. Following the transaction, the insider now directly owns 1,536 shares in the company, valued at $71,777.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 61,860 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $38.74, for a total transaction of $2,396,456.40. Following the transaction, the chief executive officer now owns 543,948 shares in the company, valued at $21,072,545.52. The disclosure for this sale can be found here. Insiders have sold 659,036 shares of company stock worth $28,872,880 over the last quarter. 0.08% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Murphy Capital Management Inc. lifted its holdings in Intel Corporation by 18.4% in the second quarter. Murphy Capital Management Inc. now owns 31,721 shares of the chip maker’s stock valued at $1,070,000 after buying an additional 4,928 shares during the period. Papp L Roy & Associates lifted its holdings in Intel Corporation by 1.2% in the second quarter. Papp L Roy & Associates now owns 68,065 shares of the chip maker’s stock valued at $2,297,000 after buying an additional 800 shares during the period. Crescent Grove Advisors LLC acquired a new position in Intel Corporation in the second quarter valued at approximately $555,000. United Bank lifted its holdings in Intel Corporation by 108.0% in the second quarter. United Bank now owns 43,841 shares of the chip maker’s stock valued at $1,479,000 after buying an additional 22,765 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its holdings in Intel Corporation by 182.1% in the second quarter. Chicago Partners Investment Group LLC now owns 15,097 shares of the chip maker’s stock valued at $530,000 after buying an additional 9,746 shares during the period. Institutional investors and hedge funds own 67.17% of the company’s stock.
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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