Intel (NASDAQ:INTC) Earns “Neutral” Rating from Citigroup

Intel (NASDAQ:INTC)‘s stock had its “neutral” rating reissued by investment analysts at Citigroup in a research note issued to investors on Friday, July 26th, Marketbeat reports. They currently have a $53.00 price objective on the chip maker’s stock, up from their previous price objective of $50.00. Citigroup‘s target price suggests a potential upside of 12.22% from the company’s current price.

Other research analysts have also issued research reports about the company. BMO Capital Markets lowered Intel from an “outperform” rating to a “market perform” rating and set a $47.99 price target on the stock. in a report on Thursday, May 9th. Royal Bank of Canada reiterated an “underperform” rating and set a $47.00 price target (up previously from $41.00) on shares of Intel in a report on Friday, July 26th. New Street Research set a $65.00 price target on Intel and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $64.00 price target on shares of Intel in a report on Friday, July 26th. Finally, SunTrust Banks reiterated a “buy” rating and set a $58.00 price target (up previously from $54.00) on shares of Intel in a report on Friday, July 26th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have given a buy rating to the company’s stock. Intel presently has an average rating of “Hold” and an average price target of $54.19.

INTC stock traded up $0.73 during midday trading on Friday, reaching $47.23. The stock had a trading volume of 21,403,487 shares, compared to its average volume of 23,744,324. The company’s fifty day simple moving average is $48.79 and its 200 day simple moving average is $50.13. 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 company has a market cap of $202.45 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.39 and a beta of 0.88. Intel has a 52-week low of $42.36 and a 52-week high of $59.59.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. The company had revenue of $16.51 billion for the quarter, compared to analyst estimates of $15.70 billion. Intel had a return on equity of 28.84% and a net margin of 28.05%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. Sell-side analysts predict that Intel will post 4.37 EPS for the current year.

In other Intel news, Director Reed E. Hundt sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $52.45, for a total value of $524,500.00. Following the completion of the sale, the director now owns 44,400 shares in the company, valued at $2,328,780. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Navin Shenoy sold 601 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $51.76, for a total value of $31,107.76. Following the sale, the executive vice president now owns 53,063 shares of the company’s stock, valued at approximately $2,746,540.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,524 shares of company stock valued at $1,844,221. 0.02% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in INTC. Nuveen Asset Management LLC raised its stake in shares of Intel by 1,899.0% during the second quarter. Nuveen Asset Management LLC now owns 25,170,134 shares of the chip maker’s stock worth $1,204,894,000 after purchasing an additional 23,911,014 shares during the last quarter. Davis Selected Advisers grew its holdings in Intel by 806.0% during the second quarter. Davis Selected Advisers now owns 7,473,706 shares of the chip maker’s stock worth $357,766,000 after acquiring an additional 6,648,828 shares during the period. Pictet Asset Management Ltd. grew its holdings in Intel by 214.8% during the second quarter. Pictet Asset Management Ltd. now owns 9,620,463 shares of the chip maker’s stock worth $460,532,000 after acquiring an additional 6,564,340 shares during the period. Thoroughbred Financial Services LLC grew its holdings in Intel by 4,885.4% during the second quarter. Thoroughbred Financial Services LLC now owns 2,548,597 shares of the chip maker’s stock worth $254,860,000 after acquiring an additional 2,497,476 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Intel by 0.6% during the second quarter. Vanguard Group Inc. now owns 363,624,758 shares of the chip maker’s stock worth $17,406,717,000 after acquiring an additional 2,219,241 shares during the period. Institutional investors and hedge funds own 66.17% of the company’s stock.

About Intel

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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Analyst Recommendations for Intel (NASDAQ:INTC)

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