Susquehanna Upgrades Intel (NASDAQ:INTC) to “Neutral”

Intel (NASDAQ:INTC – Get Rating) was upgraded by investment analysts at Susquehanna from a “negative” rating to a “neutral” rating in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has a $26.00 price objective on the chip maker’s stock, up from their prior price objective of $23.00. Susquehanna’s price objective indicates a potential downside of 12.78% from the stock’s current price.

A number of other research firms have also recently commented on INTC. Wedbush reaffirmed an “underperform” rating and set a $20.00 price objective (down from $23.00) on shares of Intel in a research report on Monday, January 23rd. Robert W. Baird reduced their price objective on shares of Intel from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, January 27th. Cowen initiated coverage on shares of Intel in a research report on Monday, November 21st. They set a “market perform” rating and a $31.00 price objective for the company. Credit Suisse Group set a $25.00 price objective on shares of Intel in a research report on Thursday, February 23rd. Finally, Mizuho dropped their target price on Intel from $32.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 27th. Eight research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and an average target price of $29.38.

Intel Price Performance

NASDAQ:INTC opened at $29.81 on Thursday. Intel has a 1-year low of $24.59 and a 1-year high of $52.51. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $28.09 and a 200 day simple moving average of $28.14. The stock has a market capitalization of $123.32 billion, a PE ratio of 15.21, a P/E/G ratio of 8.95 and a beta of 0.81.

Intel (NASDAQ:INTC – Get Rating) last released its earnings results on Thursday, January 26th. The chip maker reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Intel had a net margin of 12.71% and a return on equity of 7.45%. The firm had revenue of $14.04 billion during the quarter, compared to the consensus estimate of $14.49 billion. During the same period in the prior year, the business posted $1.09 earnings per share. Intel’s quarterly revenue was down 31.6% compared to the same quarter last year. On average, research analysts expect that Intel will post 0.55 EPS for the current fiscal year.

Insider Transactions at Intel

In related news, CFO David Zinsner bought 1,800 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were bought at an average price of $27.89 per share, for a total transaction of $50,202.00. Following the transaction, the chief financial officer now directly owns 17,450 shares of the company’s stock, valued at $486,680.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO David Zinsner acquired 1,800 shares of the firm’s stock in a transaction dated Monday, January 30th. The stock was purchased at an average price of $27.89 per share, for a total transaction of $50,202.00. Following the completion of the acquisition, the chief financial officer now directly owns 17,450 shares in the company, valued at approximately $486,680.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger bought 9,000 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The shares were acquired at an average cost of $27.83 per share, with a total value of $250,470.00. Following the completion of the transaction, the chief executive officer now owns 9,000 shares of the company’s stock, valued at $250,470. The disclosure for this purchase can be found here. Insiders purchased a total of 20,500 shares of company stock valued at $549,768 in the last quarter. 0.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Intel by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 361,644,210 shares of the chip maker’s stock valued at $9,319,571,000 after acquiring an additional 3,842,416 shares in the last quarter. State Street Corp boosted its holdings in Intel by 2.3% during the third quarter. State Street Corp now owns 180,279,279 shares of the chip maker’s stock worth $4,645,797,000 after purchasing an additional 4,129,574 shares during the last quarter. Geode Capital Management LLC grew its position in Intel by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 82,216,762 shares of the chip maker’s stock worth $2,169,431,000 after purchasing an additional 816,749 shares in the last quarter. Morgan Stanley increased its stake in Intel by 29.8% in the 4th quarter. Morgan Stanley now owns 53,342,230 shares of the chip maker’s stock valued at $1,409,835,000 after buying an additional 12,241,200 shares during the last quarter. Finally, Primecap Management Co. CA lifted its position in shares of Intel by 7.2% during the 3rd quarter. Primecap Management Co. CA now owns 52,117,226 shares of the chip maker’s stock worth $1,343,061,000 after buying an additional 3,518,980 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

About Intel

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Network and Edge (NEX), Mobileye, Accelerated Computing Systems and Graphics (AXG), Intel Foundry Services (IFS), and All Other.