TD Cowen Upgrades Intel (NASDAQ:INTC) to Hold

Intel (NASDAQ:INTC) was upgraded by equities research analysts at TD Cowen to a “hold” rating in a report released on Monday, Zacks.com reports.

A number of other research firms also recently weighed in on INTC. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $38.00 to $27.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. The Goldman Sachs Group dropped their price objective on Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Finally, UBS Group cut their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.04.

Intel Stock Up 6.4 %

NASDAQ:INTC opened at $20.91 on Monday. The company has a market cap of $89.41 billion, a price-to-earnings ratio of 21.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock’s fifty day moving average price is $24.71 and its two-hundred day moving average price is $31.45. Intel has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The company’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. On average, analysts anticipate that Intel will post -0.47 EPS for the current year.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INTC. Price T Rowe Associates Inc. MD increased its holdings in Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after buying an additional 31,575,084 shares during the last quarter. Capital International Investors increased its stake in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers lifted its stake in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares during the last quarter. Finally, Caxton Associates LP bought a new position in Intel during the second quarter worth about $162,592,000. Institutional investors and hedge funds 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.