Intel Corporation (INTC) Earns Buy Rating from Canaccord Genuity

Canaccord Genuity restated their buy rating on shares of Intel Corporation (NASDAQ:INTC) in a research report released on Wednesday morning. The firm currently has a $38.00 price target on the chip maker’s stock.

Other analysts have also issued reports about the company. Hilliard Lyons started coverage on Intel Corporation in a research note on Wednesday, July 12th. They issued a buy rating and a $41.00 target price on the stock. Needham & Company LLC restated a buy rating and set a $43.00 target price on shares of Intel Corporation in a research report on Wednesday, July 12th. Jefferies Group LLC cut Intel Corporation from a hold rating to an underperform rating and reduced their target price for the stock from $29.00 to $28.00 in a research report on Monday, July 10th. BidaskClub cut Intel Corporation from a sell rating to a strong sell rating in a research report on Wednesday, July 5th. Finally, Wells Fargo & Company reiterated an outperform rating and issued a $45.00 price objective on shares of Intel Corporation in a report on Tuesday, July 4th. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. Intel Corporation presently has an average rating of Hold and an average target price of $40.09.

Shares of Intel Corporation (NASDAQ INTC) traded down 0.61% during midday trading on Wednesday, hitting $34.47. The stock had a trading volume of 21,043,407 shares. The company’s 50 day moving average is $35.45 and its 200 day moving average is $36.07. The firm has a market cap of $162.32 billion, a P/E ratio of 14.92 and a beta of 1.00. Intel Corporation has a 52 week low of $33.23 and a 52 week high of $38.45.

Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, April 27th. The chip maker reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $14.80 billion for the quarter, compared to analyst estimates of $14.80 billion. Intel Corporation had a return on equity of 21.48% and a net margin of 18.57%. Intel Corporation’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. On average, equities analysts predict that Intel Corporation will post $2.86 earnings per share for the current fiscal year.

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In other news, insider Diane M. Bryant sold 1,639 shares of Intel Corporation stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $36.85, for a total transaction of $60,397.15. Following the completion of the sale, the insider now owns 113,357 shares of the company’s stock, valued at $4,177,205.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 13,997 shares of Intel Corporation stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $36.11, for a total transaction of $505,431.67. Following the sale, the insider now directly owns 1,536 shares of the company’s stock, valued at approximately $55,464.96. The disclosure for this sale can be found here. Insiders have sold 119,994 shares of company stock valued at $4,166,359 in the last ninety days. Insiders own 0.09% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Watermark Asset Management Inc. bought a new stake in Intel Corporation during the first quarter valued at $113,000. Orrstown Financial Services Inc. increased its position in shares of Intel Corporation by 96.6% in the first quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock worth $134,000 after buying an additional 1,830 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in shares of Intel Corporation by 53.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock worth $146,000 after buying an additional 1,400 shares during the period. Vigilant Capital Management LLC increased its position in shares of Intel Corporation by 22.6% in the first quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock worth $158,000 after buying an additional 805 shares during the period. Finally, Security Asset Management acquired a new position in shares of Intel Corporation during the fourth quarter worth approximately $162,000. 67.35% of the stock is owned by hedge funds and other institutional investors.

About Intel Corporation

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).

Analyst Recommendations for Intel Corporation (NASDAQ:INTC)

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