Intel (INTC) Upgraded at ValuEngine

Intel (NASDAQ:INTC) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Co dropped their price objective on shares of Intel from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, September 10th. Macquarie reaffirmed a “buy” rating and set a $60.00 price objective on shares of Intel in a research note on Monday, September 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $68.00 price objective on shares of Intel in a research note on Thursday, August 9th. Barclays cut shares of Intel from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $62.00 to $53.00 in a research note on Monday, August 6th. Finally, Sanford C. Bernstein set a $42.00 price target on shares of Intel and gave the company a “sell” rating in a research note on Thursday, August 9th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty have assigned a buy rating to the company’s stock. Intel currently has an average rating of “Hold” and an average target price of $55.47.

Shares of NASDAQ INTC opened at $49.31 on Friday. The company has a market cap of $230.69 billion, a PE ratio of 14.25, a PEG ratio of 1.29 and a beta of 0.88. Intel has a 12 month low of $42.04 and a 12 month 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 (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 25th. The chip maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.25. The business had revenue of $19.16 billion for the quarter, compared to analysts’ expectations of $18.11 billion. Intel had a net margin of 21.91% and a return on equity of 29.64%. As a group, analysts forecast that Intel will post 4.53 EPS for the current fiscal year.

Intel announced that its Board of Directors has authorized a share buyback plan on Thursday, November 15th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the chip maker to buy up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

In other news, EVP Steven Ralph Rodgers sold 2,235 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $45.66, for a total transaction of $102,050.10. Following the completion of the sale, the executive vice president now owns 30,324 shares in the company, valued at $1,384,593.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total value of $295,945.00. Following the sale, the vice president now owns 14,271 shares of the company’s stock, valued at approximately $649,758.63. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in INTC. Baird Financial Group Inc. grew its holdings in Intel by 5.9% during the first quarter. Baird Financial Group Inc. now owns 1,922,881 shares of the chip maker’s stock worth $100,143,000 after acquiring an additional 106,635 shares during the period. Allen Capital Group LLC acquired a new position in Intel during the second quarter worth $211,000. Baxter Bros Inc. grew its holdings in Intel by 11.5% during the second quarter. Baxter Bros Inc. now owns 220,571 shares of the chip maker’s stock worth $10,965,000 after acquiring an additional 22,783 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in Intel by 1.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,297,968 shares of the chip maker’s stock worth $67,598,000 after acquiring an additional 12,285 shares during the period. Finally, Mutual of Omaha Bank Wealth Management grew its holdings in Intel by 4.2% during the second quarter. Mutual of Omaha Bank Wealth Management now owns 29,713 shares of the chip maker’s stock worth $1,477,000 after acquiring an additional 1,205 shares during the period. Institutional investors and hedge funds own 64.81% of the company’s stock.

About Intel

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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