Intel (INTC) Upgraded to “Overweight” by Morgan Stanley

Intel (NASDAQ:INTC) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, February 22nd, MarketBeat Ratings reports. The firm presently has a $64.00 price objective on the chip maker’s stock, up from their prior price objective of $55.00. Morgan Stanley’s price target points to a potential upside of 18.91% from the company’s current price.

A number of other equities research analysts have also recently commented on INTC. Zacks Investment Research raised Intel from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Monday, October 29th. Needham & Company LLC reissued a “buy” rating and issued a $57.00 target price (down from $60.00) on shares of Intel in a research note on Friday, October 26th. Royal Bank of Canada set a $55.00 target price on Intel and gave the stock a “neutral” rating in a research note on Friday, October 26th. Macquarie set a $58.00 target price on Intel and gave the stock a “buy” rating in a research note on Monday, November 19th. Finally, Tigress Financial reissued a “buy” rating on shares of Intel in a research note on Tuesday, October 30th. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $54.33.

INTC stock traded down $0.35 during midday trading on Friday, hitting $53.82. The stock had a trading volume of 20,464,707 shares, compared to its average volume of 24,802,863. The stock has a market cap of $253.10 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.43 and a beta of 0.79. Intel has a 52-week low of $42.36 and a 52-week high of $57.60. The company has a quick ratio of 1.30, a current ratio of 1.73 and a debt-to-equity ratio of 0.34.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 24th. The chip maker reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.06. Intel had a return on equity of 30.08% and a net margin of 29.72%. The company had revenue of $18.66 billion for the quarter, compared to analysts’ expectations of $19.02 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts expect that Intel will post 4.5 earnings per share for the current fiscal year.

In other news, VP Kevin Thomas Mcbride sold 518 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $51.33, for a total value of $26,588.94. Following the transaction, the vice president now owns 8,274 shares of the company’s stock, valued at $424,704.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Navin Shenoy sold 1,518 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $46.11, for a total value of $69,994.98. Following the completion of the transaction, the executive vice president now directly owns 52,419 shares in the company, valued at approximately $2,417,040.09. The disclosure for this sale can be found here. Insiders sold 40,261 shares of company stock worth $2,116,147 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Keeler Thomas Management LLC purchased a new position in Intel during the 2nd quarter valued at approximately $293,000. HC Financial Advisors Inc. bought a new stake in shares of Intel in the 2nd quarter valued at approximately $1,158,000. Leisure Capital Management lifted its stake in shares of Intel by 43.2% in the 2nd quarter. Leisure Capital Management now owns 16,602 shares of the chip maker’s stock valued at $825,000 after purchasing an additional 5,012 shares during the last quarter. Biondo Investment Advisors LLC lifted its stake in shares of Intel by 2.0% in the 2nd quarter. Biondo Investment Advisors LLC now owns 106,962 shares of the chip maker’s stock valued at $5,348,000 after purchasing an additional 2,148 shares during the last quarter. Finally, West Branch Capital LLC lifted its stake in shares of Intel by 78.3% in the 2nd quarter. West Branch Capital LLC now owns 62,693 shares of the chip maker’s stock valued at $3,116,000 after purchasing an additional 27,525 shares during the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Intel Company Profile

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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