Citigroup reaffirmed their buy rating on shares of Intel (NASDAQ:INTC) in a research report report published on Friday morning, MarketBeat reports. The brokerage currently has a $54.00 price objective on the chip maker’s stock, up from their prior price objective of $50.00.
A number of other research firms have also recently weighed in on INTC. Northland Securities cut Intel from a market perform rating to an under perform rating in a report on Tuesday, December 4th. ValuEngine upgraded Intel from a sell rating to a hold rating in a report on Saturday, December 1st. BNP Paribas set a $53.00 price target on Intel and gave the stock a neutral rating in a report on Tuesday, December 4th. UBS Group cut Intel from a buy rating to a hold rating in a report on Thursday, November 29th. Finally, DZ Bank cut Intel from a buy rating to a hold rating and set a $50.00 price target on the stock. in a report on Thursday, November 29th. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $55.17.
Shares of INTC stock opened at $48.93 on Friday. The company has a market cap of $224.61 billion, a PE ratio of 14.14, a price-to-earnings-growth 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 quick ratio of 1.13, a current ratio of 1.51 and a debt-to-equity ratio of 0.35.
Intel announced that its board has initiated a stock repurchase program on Thursday, November 15th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the chip maker to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, VP Kevin Thomas Mcbride sold 6,500 shares of the firm’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $45.53, for a total transaction of $295,945.00. Following the sale, the vice president now owns 14,271 shares in the company, valued at $649,758.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Navin Shenoy sold 8,552 shares of the stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $47.93, for a total value of $409,897.36. Following the completion of the transaction, the executive vice president now directly owns 66,871 shares in the company, valued at $3,205,127.03. The disclosure for this sale can be found here. Insiders have sold 21,809 shares of company stock worth $1,033,992 in the last 90 days. Insiders own 0.03% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Tortoise Investment Management LLC raised its position in shares of Intel by 86.7% in the 3rd quarter. Tortoise Investment Management LLC now owns 1,249 shares of the chip maker’s stock worth $59,000 after buying an additional 580 shares during the period. Quad Cities Investment Group LLC purchased a new position in shares of Intel in the 2nd quarter worth $107,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Intel by 375.2% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,533 shares of the chip maker’s stock worth $120,000 after buying an additional 2,000 shares during the period. Highwater Wealth Management LLC purchased a new position in shares of Intel in the 4th quarter worth $125,000. Finally, Ironwood Financial llc raised its position in shares of Intel by 429.0% in the 3rd quarter. Ironwood Financial llc now owns 2,645 shares of the chip maker’s stock worth $125,000 after buying an additional 2,145 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.
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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