Intel (INTC) PT Raised to $54.00 at Citigroup

Intel (NASDAQ:INTC) had its price objective raised by Citigroup from $50.00 to $54.00 in a research note released on Friday morning. Citigroup currently has a buy rating on the chip maker’s stock.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Intel from a hold rating to a buy rating and set a $53.00 price target on the stock in a report on Wednesday, September 26th. Macquarie reissued a buy rating and issued a $60.00 price target on shares of Intel in a report on Monday, September 24th. Morningstar set a $65.00 target price on shares of Intel and gave the company a buy rating in a research note on Monday, October 1st. Wells Fargo & Co set a $55.00 target price on shares of Intel and gave the company a buy rating in a research note on Monday, October 1st. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and set a $68.00 target price on shares of Intel in a research note on Monday, October 1st. Six equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nineteen have assigned a buy rating to the company. Intel presently has a consensus rating of Hold and a consensus target price of $55.17.

Shares of Intel stock opened at $48.93 on Friday. The firm has a market capitalization of $224.61 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.25 and a beta of 0.85. 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 announced its quarterly earnings results on Thursday, October 25th. The chip maker reported $1.40 earnings per share (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 analyst estimates of $18.11 billion. Intel had a net margin of 21.91% and a return on equity of 29.64%. Research analysts expect that Intel will post 4.53 earnings per share for the current fiscal year.

Intel declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 15th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the chip maker to purchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

In other news, EVP Steven Ralph Rodgers sold 2,235 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $45.66, for a total transaction of $102,050.10. Following the completion of the transaction, the executive vice president now directly owns 30,324 shares of the company’s stock, valued at $1,384,593.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kevin Thomas Mcbride sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $45.53, for a total transaction of $295,945.00. Following the transaction, the vice president now directly owns 14,271 shares of the company’s stock, valued at $649,758.63. The disclosure for this sale can be found here. Insiders sold 21,809 shares of company stock valued at $1,033,992 over the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. grew its position in Intel by 3.0% during the third quarter. Cornerstone Advisors Inc. now owns 8,761 shares of the chip maker’s stock valued at $414,000 after buying an additional 257 shares during the period. United Capital Management of KS Inc. grew its position in Intel by 1.6% during the fourth quarter. United Capital Management of KS Inc. now owns 17,535 shares of the chip maker’s stock valued at $823,000 after buying an additional 275 shares during the period. Stillwater Investment Management LLC grew its position in Intel by 0.6% during the fourth quarter. Stillwater Investment Management LLC now owns 48,888 shares of the chip maker’s stock valued at $2,294,000 after buying an additional 287 shares during the period. Blue Fin Capital Inc. grew its position in Intel by 3.1% during the third quarter. Blue Fin Capital Inc. now owns 15,553 shares of the chip maker’s stock valued at $736,000 after buying an additional 465 shares during the period. Finally, Tortoise Investment Management LLC grew its position in Intel by 86.7% during the third quarter. Tortoise Investment Management LLC now owns 1,249 shares of the chip maker’s stock valued at $59,000 after buying an additional 580 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

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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