Intel (NASDAQ:INTC) Upgraded at HSBC

Intel (NASDAQ:INTC) was upgraded by analysts at HSBC from a “reduce” rating to a “hold” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports.

INTC has been the topic of several other reports. Northland Securities reduced their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Mizuho lowered their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Barclays dropped their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Five investment analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.88.

Intel Price Performance

INTC opened at $21.49 on Tuesday. The company has a 50 day moving average of $21.55 and a two-hundred day moving average of $23.27. Intel has a 52-week low of $18.51 and a 52-week high of $50.30. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $92.69 billion, a P/E ratio of -5.78, a P/E/G ratio of 9.46 and a beta of 1.07.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, analysts expect that Intel will post -0.87 earnings per share for the current year.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of INTC. William B. Walkup & Associates Inc. acquired a new stake in Intel during the 2nd quarter worth about $2,178,000. Geode Capital Management LLC lifted its position in shares of Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Relyea Zuckerberg Hanson LLC boosted its holdings in shares of Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after purchasing an additional 19,625 shares during the period. Principal Financial Group Inc. grew its position in Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Finally, Empirical Asset Management LLC acquired a new position in Intel in the 4th quarter valued at approximately $276,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

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.