Intel Corporation (INTC) Receives “Overweight” Rating from Wells Fargo & Company

Intel Corporation (NASDAQ:INTC)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Wells Fargo & Company in a research note issued on Friday, July 14th.

A number of other research firms have also issued reports on INTC. B. Riley reissued a “buy” rating and set a $44.00 target price on shares of Intel Corporation in a research note on Friday, April 28th. Jefferies Group LLC lowered shares of Intel Corporation to a “hold” rating and boosted their target price for the company from $36.00 to $38.00 in a research note on Friday, April 28th. Sanford C. Bernstein reaffirmed a “sell” rating and issued a $30.00 price target on shares of Intel Corporation in a research note on Tuesday, May 2nd. Canaccord Genuity reaffirmed a “hold” rating on shares of Intel Corporation in a research note on Saturday, June 3rd. Finally, Zacks Investment Research lowered shares of Intel Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $40.55.

Shares of Intel Corporation (INTC) opened at 35.87 on Friday. The company has a 50-day moving average of $34.84 and a 200-day moving average of $35.72. Intel Corporation has a 12 month low of $33.23 and a 12 month high of $38.45. The firm has a market cap of $168.55 billion, a P/E ratio of 13.69 and a beta of 1.01.

Intel Corporation (NASDAQ:INTC) last posted its earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $14.76 billion during the quarter, compared to analyst estimates of $14.39 billion. Intel Corporation had a net margin of 20.60% and a return on equity of 21.86%. Intel Corporation’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. Equities analysts forecast that Intel Corporation will post $3.01 EPS for the current fiscal year.

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In other Intel Corporation news, insider Venkata S. M. Renduchintala sold 13,996 shares of Intel Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the completion of the transaction, the insider now directly owns 1,536 shares of the company’s stock, valued at $54,481.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian M. Krzanich sold 72,173 shares of Intel Corporation stock in a transaction 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 transaction, the chief executive officer now directly owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,921 shares of company stock worth $3,130,162. 0.09% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Watermark Asset Management Inc. bought a new position in Intel Corporation during the first quarter worth approximately $113,000. Acrospire Investment Management LLC boosted its position in Intel Corporation by 111.8% in the second quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock worth $121,000 after buying an additional 1,900 shares during the period. Orrstown Financial Services Inc. boosted its position in Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after buying an additional 1,830 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Intel Corporation by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares during the period. Finally, Winfield Associates Inc. boosted its position in Intel Corporation by 6.0% in the second quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after buying an additional 265 shares during the period. 67.50% of the stock is owned by hedge funds and other institutional investors.

Intel Corporation Company Profile

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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