Intel (NASDAQ:INTC) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued to investors on Monday, Zacks.com reports. The brokerage presently has a $59.00 price objective on the chip maker's stock. Zacks Investment Research's price target would indicate a potential upside of 4.13% from the company's current price.
According to Zacks, "Despite better-than-expected fourth-quarter results and encouraging guidance for first-quarter 2021, shares of Intel have underperformed the industry in the past six-month period. Sluggish data center demand across cloud service providers, enterprise and government end-markets is likely to weigh on the top-line performance, at least in the near term. Declining ASPs and weakness in IOT end-markets remain headwinds. Also, production delays pertaining to 7 nm ramp up remain concerns. Nevertheless, Intel is poised to gain from increasing demand for its 10 nanometer SuperFin process-based 11th Gen core processors, triggered by coronavirus crisis induced remote working and online learning wave amid solid growth in PC market. Moreover, Mobileye growth is projected to be driven by design win momentum and stabilizing automotive industry through 2021."
Several other research firms have also issued reports on INTC. Bank of America reiterated a "sell" rating and set a $58.00 price objective on shares of Intel in a research note on Friday. Oppenheimer reiterated a "hold" rating on shares of Intel in a research note on Friday. Mizuho increased their price objective on Intel from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Friday. Morgan Stanley increased their price objective on Intel from $70.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, BMO Capital Markets increased their price objective on Intel from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has a consensus rating of "Hold" and an average target price of $61.94.
INTC opened at $56.66 on Monday. Intel has a 1-year low of $43.61 and a 1-year high of $69.29. The company has a current ratio of 1.66, a quick ratio of 1.24 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $232.19 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.63 and a beta of 0.74. The business has a 50 day moving average of $51.28 and a 200-day moving average of $50.49.
Intel (NASDAQ:INTC) last issued its earnings results on Wednesday, January 20th. The chip maker reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.42. Intel had a return on equity of 29.44% and a net margin of 28.10%. During the same period last year, the business earned $1.52 earnings per share. Equities analysts predict that Intel will post 4.89 EPS for the current year.
In other news, VP Kevin Thomas Mcbride sold 589 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $44.96, for a total transaction of $26,481.44. Following the sale, the vice president now owns 14,486 shares of the company's stock, valued at $651,290.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Navin Shenoy sold 2,848 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $44.96, for a total value of $128,046.08. Following the sale, the executive vice president now directly owns 72,272 shares in the company, valued at approximately $3,249,349.12. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Baron Financial Group LLC acquired a new stake in Intel in the 3rd quarter valued at approximately $34,000. Ogorek Anthony Joseph NY ADV acquired a new stake in Intel in the 4th quarter valued at approximately $31,000. Holloway Wealth Management LLC acquired a new stake in Intel in the 3rd quarter valued at approximately $41,000. Kinloch Capital LLC acquired a new stake in Intel in the 4th quarter valued at approximately $50,000. Finally, Grace Capital acquired a new position in shares of Intel during the 3rd quarter worth approximately $53,000. 63.25% of the stock is currently owned by institutional investors and hedge funds.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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