Bank of America Increases Intel (NASDAQ:INTC) Price Target to $70.00

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Intel (NASDAQ:INTC) had its price target increased by Bank of America from $65.00 to $70.00 in a research report released on Monday morning, The Fly reports. They currently have a positive rating on the chip maker’s stock. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued reports about the company. Goldman Sachs Group restated a sell rating and issued a $48.00 price objective on shares of Intel in a report on Friday, October 25th. UBS Group set a $60.00 target price on Intel and gave the stock a buy rating in a report on Friday, October 25th. Susquehanna Bancshares boosted their target price on Intel from $52.00 to $55.00 and gave the stock a neutral rating in a report on Friday, October 25th. Loop Capital set a $50.00 target price on shares of Intel and gave the stock a hold rating in a research report on Friday, October 18th. Finally, SunTrust Banks raised their price target on shares of Intel from $58.00 to $60.00 and gave the company a hold rating in a report on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $56.32.

Shares of INTC opened at $57.66 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $252.52 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. The stock’s fifty day simple moving average is $56.23 and its 200 day simple moving average is $50.19. Intel has a twelve month low of $42.86 and a twelve month high of $59.59.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 24th. The chip maker reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.18. Intel had a return on equity of 28.28% and a net margin of 27.46%. The firm had revenue of $19.19 billion for the quarter, compared to analysts’ expectations of $18.07 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts predict that Intel will post 4.61 earnings per share for the current year.

The company also recently announced a — dividend, which was paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th were paid a $0.315 dividend. The ex-dividend date was Wednesday, November 6th. This represents a dividend yield of 2.4%. Intel’s dividend payout ratio (DPR) is presently 27.51%.

Intel announced that its board has authorized a share buyback plan on Thursday, October 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the chip maker to repurchase up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other Intel news, VP Jennifer Balliet sold 6,833 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $24.25, for a total value of $165,700.25. Also, EVP Navin Shenoy sold 8,551 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $52.06, for a total transaction of $445,165.06. Following the completion of the transaction, the executive vice president now directly owns 70,276 shares of the company’s stock, valued at $3,658,568.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,738 shares of company stock valued at $3,692,492. Company insiders own 0.02% of the company’s stock.

Several institutional investors have recently made changes to their positions in INTC. Institutional & Family Asset Management LLC grew its position in shares of Intel by 3.3% during the third quarter. Institutional & Family Asset Management LLC now owns 55,258 shares of the chip maker’s stock worth $2,847,000 after buying an additional 1,772 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in Intel in the third quarter valued at $5,964,000. Man Group plc boosted its stake in Intel by 978.3% during the 3rd quarter. Man Group plc now owns 5,306,135 shares of the chip maker’s stock valued at $273,424,000 after acquiring an additional 4,814,051 shares during the last quarter. Signet Financial Management LLC boosted its stake in Intel by 111.2% during the 3rd quarter. Signet Financial Management LLC now owns 111,325 shares of the chip maker’s stock valued at $6,496,000 after acquiring an additional 58,606 shares during the last quarter. Finally, Stamos Capital Partners L.P. increased its position in shares of Intel by 19.0% in the 3rd quarter. Stamos Capital Partners L.P. now owns 25,000 shares of the chip maker’s stock worth $1,288,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors own 65.33% of the company’s stock.

About Intel

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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