Intel (NASDAQ:INTC) Upgraded by Mizuho to Buy

Mizuho upgraded shares of Intel (NASDAQ:INTC) from a neutral rating to a buy rating in a research report report published on Thursday, Briefing.com reports. They currently have $50.00 price objective on the chip maker’s stock, up from their previous price objective of $37.00.

Other equities research analysts also recently issued reports about the stock. Truist Financial lifted their price target on shares of Intel from $32.00 to $37.00 and gave the company a hold rating in a research note on Friday, July 28th. Wolfe Research lifted their price target on shares of Intel from $27.00 to $31.00 and gave the company an underperform rating in a research note on Friday, July 28th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intel from $32.00 to $38.00 and gave the company a hold rating in a research note on Friday, July 28th. Tigress Financial decreased their price target on shares of Intel from $72.00 to $46.00 and set a buy rating for the company in a research note on Friday, August 4th. Finally, Wedbush lifted their price target on shares of Intel from $30.00 to $35.00 and gave the company a neutral rating in a research note on Friday, July 28th. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $35.53.

Intel Price Performance

INTC stock opened at $40.61 on Thursday. The firm has a market cap of $171.21 billion, a price-to-earnings ratio of -101.52, a PEG ratio of 14.24 and a beta of 0.88. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 0.44. Intel has a 12-month low of $24.73 and a 12-month high of $40.84. The company’s fifty day simple moving average is $36.49 and its 200 day simple moving average is $34.15.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 26th. The chip maker reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.20. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.57 billion. Intel had a negative net margin of 3.11% and a positive return on equity of 0.49%. Intel’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, analysts expect that Intel will post 0.19 earnings per share for the current year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.23%. Intel’s dividend payout ratio is currently -125.00%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger purchased 6,775 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was acquired at an average cost of $36.80 per share, for a total transaction of $249,320.00. Following the completion of the transaction, the chief executive officer now directly owns 25,475 shares in the company, valued at approximately $937,480. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intel

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blueprint Investment Partners LLC bought a new position in shares of Intel during the third quarter worth $390,000. McIlrath & Eck LLC boosted its position in shares of Intel by 2.0% during the third quarter. McIlrath & Eck LLC now owns 14,116 shares of the chip maker’s stock worth $502,000 after acquiring an additional 276 shares during the last quarter. Belpointe Asset Management LLC boosted its position in shares of Intel by 3.6% during the third quarter. Belpointe Asset Management LLC now owns 12,199 shares of the chip maker’s stock worth $434,000 after acquiring an additional 419 shares during the last quarter. First Foundation Advisors boosted its position in shares of Intel by 5.4% during the third quarter. First Foundation Advisors now owns 36,116 shares of the chip maker’s stock worth $1,284,000 after acquiring an additional 1,840 shares during the last quarter. Finally, Advisors Capital Management LLC boosted its position in shares of Intel by 5.2% during the third quarter. Advisors Capital Management LLC now owns 11,102 shares of the chip maker’s stock worth $395,000 after acquiring an additional 548 shares during the last quarter. Institutional investors own 60.84% of the company’s stock.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.