Macquarie Analysts Give Intel (INTC) a $58.00 Price Target
Intel (NASDAQ:INTC) has been assigned a $58.00 price target by equities researchers at Macquarie in a report issued on Monday. The brokerage currently has a “buy” rating on the chip maker’s stock. Macquarie’s target price indicates a potential upside of 19.10% from the company’s previous close.
A number of other brokerages have also weighed in on INTC. Royal Bank of Canada set a $60.00 target price on Intel and gave the stock a “neutral” rating in a research report on Tuesday, July 24th. B. Riley lowered their target price on Intel from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Intel in a research report on Friday, July 27th. KeyCorp lowered their target price on Intel from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Finally, Bank of America lowered Intel from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $62.00 to $56.00 in a research report on Friday, July 27th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $55.56.
Shares of Intel stock traded down $0.13 on Monday, reaching $48.70. 376,863 shares of the company’s stock were exchanged, compared to its average volume of 33,044,928. The stock has a market capitalization of $228.44 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.28 and a beta of 0.88. Intel has a 52 week low of $42.04 and a 52 week high of $57.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.51.
Intel announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 15th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the chip maker to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, VP Kevin Thomas Mcbride sold 6,500 shares of the firm’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total transaction of $295,945.00. Following the completion of the sale, the vice president now directly owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Steven Ralph Rodgers sold 2,235 shares of the stock in a transaction on Friday, October 26th. The stock was sold at an average price of $45.66, for a total value of $102,050.10. Following the transaction, the executive vice president now owns 30,324 shares of the company’s stock, valued at approximately $1,384,593.84. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Vectors Research Management LLC bought a new position in Intel in the 3rd quarter worth about $561,000. Elmwood Wealth Management Inc. bought a new position in Intel in the 1st quarter worth about $110,000. Quad Cities Investment Group LLC bought a new position in Intel in the 2nd quarter worth about $107,000. Financial Gravity Wealth Inc. bought a new position in Intel in the 1st quarter worth about $120,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Intel by 375.2% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,533 shares of the chip maker’s stock worth $120,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 64.81% of the company’s stock.
Intel Corporation designs, manufactures, and sells computer, networking, data storage, and communication platforms worldwide. The company operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments.
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