Intel Corporation (INTC) Given “Overweight” Rating at Wells Fargo & Company

Wells Fargo & Company reaffirmed their overweight rating on shares of Intel Corporation (NASDAQ:INTC) in a research note published on Friday.

INTC has been the subject of several other research reports. Zacks Investment Research downgraded Intel Corporation from a hold rating to a sell rating in a research report on Wednesday, April 12th. Hilliard Lyons began coverage on Intel Corporation in a research report on Wednesday, July 12th. They set a buy rating and a $41.00 price target for the company. Canaccord Genuity reissued a hold rating on shares of Intel Corporation in a research report on Saturday, June 3rd. Vetr downgraded Intel Corporation from a buy rating to a hold rating and set a $37.50 price target for the company. in a research report on Monday, April 3rd. Finally, BidaskClub downgraded Intel Corporation from a hold rating to a sell rating in a research report on Tuesday, June 27th. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Intel Corporation currently has an average rating of Hold and a consensus price target of $40.09.

Intel Corporation (NASDAQ:INTC) traded down 0.61% during trading on Friday, reaching $34.47. The company’s stock had a trading volume of 21,044,407 shares. The company has a market capitalization of $162.32 billion, a PE ratio of 14.92 and a beta of 1.00. The company has a 50 day moving average price of $35.45 and a 200-day moving average price of $36.07. 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, April 27th. The chip maker reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Intel Corporation had a return on equity of 21.48% and a net margin of 18.57%. The firm had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $14.80 billion. During the same period last year, the business posted $0.54 EPS. Intel Corporation’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts anticipate that Intel Corporation will post $2.86 earnings per share for the current year.

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In other Intel Corporation news, CEO Brian M. Krzanich sold 72,173 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $33.69, for a total value of $2,431,508.37. Following the completion of the sale, the chief executive officer now directly owns 534,746 shares in the company, valued at $18,015,592.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Diane M. Bryant sold 1,639 shares of the company’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $36.85, for a total value of $60,397.15. Following the completion of the sale, the insider now owns 113,357 shares of the company’s stock, valued at $4,177,205.45. The disclosure for this sale can be found here. Insiders sold 119,994 shares of company stock valued at $4,166,359 over the last 90 days. 0.09% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Glenview Trust Co purchased a new stake in Intel Corporation during the fourth quarter worth $21,856,000. Federated Investors Inc. PA increased its stake in Intel Corporation by 3.5% in the fourth quarter. Federated Investors Inc. PA now owns 1,121,105 shares of the chip maker’s stock worth $40,662,000 after buying an additional 38,079 shares during the period. Capital Analysts LLC increased its stake in Intel Corporation by 2.1% in the fourth quarter. Capital Analysts LLC now owns 30,674 shares of the chip maker’s stock worth $1,113,000 after buying an additional 619 shares during the period. CWA Asset Management Group LLC increased its stake in Intel Corporation by 35.1% in the fourth quarter. CWA Asset Management Group LLC now owns 43,308 shares of the chip maker’s stock worth $1,571,000 after buying an additional 11,259 shares during the period. Finally, FIL Ltd increased its stake in Intel Corporation by 53.0% in the fourth quarter. FIL Ltd now owns 2,716,180 shares of the chip maker’s stock worth $98,516,000 after buying an additional 940,782 shares during the period. Hedge funds and other institutional investors own 67.35% 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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