Intel (NASDAQ:INTC) Coverage Initiated at Cowen

Equities research analysts at Cowen initiated coverage on shares of Intel (NASDAQ:INTCGet Rating) in a research report issued on Monday, The Fly reports. The brokerage set a “market perform” rating and a $31.00 price target on the chip maker’s stock. Cowen’s price objective would indicate a potential upside of 3.96% from the company’s previous close.

Several other equities research analysts also recently weighed in on INTC. Wells Fargo & Company dropped their target price on shares of Intel from $45.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 11th. Needham & Company LLC dropped their target price on shares of Intel from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. DZ Bank downgraded shares of Intel from a “hold” rating to a “sell” rating and set a $30.00 target price for the company. in a research report on Tuesday, August 2nd. Northland Securities dropped their target price on shares of Intel from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, October 10th. Finally, Wedbush dropped their target price on shares of Intel from $44.00 to $35.00 in a research report on Friday, July 29th. Nine research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.67.

Intel Stock Performance

Intel stock opened at $29.82 on Monday. The firm’s fifty day moving average price is $27.76 and its 200 day moving average price is $34.33. The company has a market capitalization of $123.07 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. Intel has a 12-month low of $24.59 and a 12-month high of $56.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.77 and a quick ratio of 1.31.

Insider Buying and Selling

In other Intel news, Director Lip Bu Tan bought 48,146 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average cost of $27.98 per share, for a total transaction of $1,347,125.08. Following the acquisition, the director now directly owns 50,500 shares of the company’s stock, valued at $1,412,990. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger purchased 8,830 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were acquired at an average price of $28.16 per share, for a total transaction of $248,652.80. Following the completion of the acquisition, the chief executive officer now directly owns 96,049 shares of the company’s stock, valued at $2,704,739.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lip Bu Tan purchased 48,146 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were purchased at an average price of $27.98 per share, for a total transaction of $1,347,125.08. Following the acquisition, the director now directly owns 50,500 shares of the company’s stock, valued at $1,412,990. The disclosure for this purchase can be found here. Insiders have acquired 58,830 shares of company stock worth $1,646,744 in the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intel

Large investors have recently made changes to their positions in the company. O Dell Group LLC increased its stake in Intel by 258.1% in the 3rd quarter. O Dell Group LLC now owns 974 shares of the chip maker’s stock valued at $25,000 after buying an additional 702 shares during the period. Apeiron RIA LLC bought a new stake in Intel in the second quarter worth approximately $26,000. Islay Capital Management LLC bought a new stake in Intel in the third quarter worth approximately $26,000. Lansing Street Advisors bought a new stake in Intel in the first quarter worth approximately $28,000. Finally, Steward Financial Group LLC grew its position in Intel by 667.0% in the second quarter. Steward Financial Group LLC now owns 790 shares of the chip maker’s stock worth $29,000 after acquiring an additional 687 shares in the last quarter. Institutional investors and hedge funds own 61.52% of the company’s stock.

About Intel

(Get Rating)

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.

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