Intel (NASDAQ:INTC) Stock Rating Upgraded by Bank of America

Intel (NASDAQ:INTC) was upgraded by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $25.00 price objective on the chip maker’s stock, up from their prior price objective of $19.00. Bank of America‘s price target would indicate a potential upside of 20.89% from the company’s previous close.

Several other research firms have also recently weighed in on INTC. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Citigroup cut their price target on Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. UBS Group lowered their price objective on Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company lowered their target price on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $20.00 target price on shares of Intel in a report on Thursday, January 30th. Four research analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.04.

Intel Stock Up 4.6 %

Shares of INTC stock opened at $20.68 on Thursday. The stock has a market cap of $89.54 billion, a P/E ratio of -4.72 and a beta of 1.02. Intel has a one year low of $18.51 and a one year high of $45.41. The stock has a fifty day moving average price of $21.31 and a 200 day moving average price of $21.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Analysts predict that Intel will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Intel

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Intel in the 4th quarter valued at about $1,246,569,000. Two Sigma Advisers LP acquired a new stake in shares of Intel in the fourth quarter worth $289,752,000. Assenagon Asset Management S.A. raised its stake in Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after purchasing an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Intel during the 4th quarter worth about $237,457,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.