Intel (INTC) Coverage Initiated at Citigroup
Equities researchers at Citigroup began coverage on shares of Intel (NASDAQ:INTC) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $58.00 price target on the chip maker’s stock. Citigroup’s price objective points to a potential upside of 20.48% from the stock’s current price.
Several other analysts have also recently weighed in on INTC. ValuEngine upgraded shares of Intel from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Vetr lowered Intel from a “strong-buy” rating to a “buy” rating and set a $42.80 price objective for the company. in a research report on Tuesday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 price objective (up previously from $37.00) on shares of Intel in a research report on Friday, October 6th. Mizuho reissued a “buy” rating and set a $45.00 price objective (up previously from $42.00) on shares of Intel in a research report on Monday, October 9th. Finally, Susquehanna Bancshares raised their price objective on Intel from $45.00 to $46.00 and gave the company a “positive” rating in a research report on Tuesday, October 10th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirty have given a buy rating to the stock. Intel currently has an average rating of “Buy” and an average target price of $49.10.
Shares of Intel (NASDAQ INTC) opened at $48.14 on Tuesday. The firm has a market cap of $225,300.00, a price-to-earnings ratio of 24.31, a P/E/G ratio of 1.70 and a beta of 1.06. Intel has a fifty-two week low of $33.23 and a fifty-two week high of $50.85. The company has a quick ratio of 1.29, a current ratio of 1.69 and a debt-to-equity ratio of 0.36.
In other news, EVP Navin Shenoy sold 1,643 shares of Intel stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $49.28, for a total value of $80,967.04. Following the completion of the transaction, the executive vice president now owns 22,453 shares of the company’s stock, valued at approximately $1,106,483.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian M. Krzanich sold 889,878 shares of Intel stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $44.19, for a total value of $39,323,708.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 909,632 shares of company stock valued at $40,264,998. 0.08% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INTC. Financial Engines Advisors L.L.C. bought a new stake in Intel in the 3rd quarter worth about $119,000. Acrospire Investment Management LLC increased its holdings in Intel by 111.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock worth $121,000 after buying an additional 1,900 shares in the last quarter. Delphi Private Advisors LLC increased its holdings in Intel by 286.1% in the 4th quarter. Delphi Private Advisors LLC now owns 2,911 shares of the chip maker’s stock worth $134,000 after buying an additional 2,157 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in Intel by 47.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 3,850 shares of the chip maker’s stock worth $147,000 after buying an additional 1,233 shares in the last quarter. Finally, Winfield Associates Inc. increased its holdings in Intel by 6.0% in the 2nd quarter. Winfield Associates Inc. now owns 4,651 shares of the chip maker’s stock worth $156,000 after buying an additional 265 shares in the last quarter. Institutional investors own 67.56% of the company’s stock.
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Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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