BidaskClub Upgrades Intel (NASDAQ:INTC) to Buy

Intel (NASDAQ:INTC) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday, BidAskClub reports.

A number of other analysts have also recently commented on the stock. Nomura set a $65.00 price target on shares of Intel and gave the company a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada restated an “underperform” rating and set a $47.00 price target (up from $41.00) on shares of Intel in a research note on Friday, July 26th. ValuEngine cut shares of Intel from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Loop Capital assumed coverage on shares of Intel in a research note on Monday, August 12th. They set a “hold” rating and a $50.00 price target on the stock. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $64.00 price target on shares of Intel in a research note on Friday, July 26th. Nine investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.09.

Shares of INTC stock traded down $0.38 during trading on Wednesday, reaching $52.63. 726,988 shares of the company’s stock traded hands, compared to its average volume of 19,875,556. The company has a market capitalization of $229.56 billion, a P/E ratio of 11.49, a PEG ratio of 1.58 and a beta of 0.90. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average is $48.25 and its 200 day moving average is $49.89. Intel has a 1 year low of $42.36 and a 1 year high of $59.59.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. The company had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $15.70 billion. Intel had a net margin of 28.05% and a return on equity of 28.84%. Intel’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. As a group, sell-side analysts predict that Intel will post 4.38 earnings per share for the current fiscal year.

In other news, Director Frank D. Yeary sold 2,509 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $46.86, for a total value of $117,571.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Navin Shenoy sold 8,552 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.78, for a total transaction of $400,062.56. Following the completion of the transaction, the executive vice president now directly owns 68,833 shares in the company, valued at approximately $3,220,007.74. The disclosure for this sale can be found here. Insiders sold a total of 39,033 shares of company stock worth $1,961,792 in the last three months. Insiders own 0.02% of the company’s stock.

Several large investors have recently modified their holdings of the company. Great Valley Advisor Group Inc. boosted its position in Intel by 5.2% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 21,962 shares of the chip maker’s stock valued at $1,051,000 after buying an additional 1,077 shares during the period. Larson Financial Group LLC boosted its position in Intel by 23.6% during the 2nd quarter. Larson Financial Group LLC now owns 2,600 shares of the chip maker’s stock valued at $124,000 after buying an additional 496 shares during the period. Advisory Resource Group purchased a new stake in Intel during the 1st quarter valued at $241,000. Asset Planning Services Inc. LA ADV boosted its position in Intel by 2.1% during the 2nd quarter. Asset Planning Services Inc. LA ADV now owns 121,027 shares of the chip maker’s stock valued at $5,794,000 after buying an additional 2,450 shares during the period. Finally, Grimes & Company Inc. boosted its position in Intel by 1.6% during the 2nd quarter. Grimes & Company Inc. now owns 376,716 shares of the chip maker’s stock valued at $18,034,000 after buying an additional 5,942 shares during the period. 65.95% of the stock is currently owned by hedge funds and other institutional investors.

Intel Company Profile

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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