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

Intel (NASDAQ:INTC) was upgraded by Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a $25.00 price target on the chip maker’s stock, up from their prior price target of $19.00. Bank of America‘s price objective indicates a potential upside of 3.95% from the company’s current price.

A number of other research firms have also weighed in on INTC. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Barclays dropped their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Roth Mkm reduced their target price on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Citigroup reduced their target price on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.04.

Intel Trading Up 1.5 %

INTC stock opened at $24.05 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The company has a market capitalization of $104.14 billion, a price-to-earnings ratio of -5.49 and a beta of 1.02. Intel has a 1-year low of $18.51 and a 1-year high of $45.41. The business has a 50 day simple moving average of $21.45 and a two-hundred day simple moving average of $21.84.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 30th. The chip maker reported ($0.02) 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%. Research analysts anticipate that Intel will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Intel

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Intel by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock worth $7,400,439,000 after buying an additional 6,143,164 shares during the last quarter. State Street Corp raised its holdings in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Intel by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after purchasing an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intel by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock valued at $1,268,430,000 after acquiring an additional 4,793,927 shares during the period. Finally, Norges Bank purchased a new stake in Intel during the fourth quarter valued at about $1,246,569,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

About Intel

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.