Intel (NASDAQ:INTC) Upgraded to “Neutral” at Bank of America

Bank of America upgraded shares of Intel (NASDAQ:INTC) from an underperform rating to a neutral rating in a report published on Thursday, MarketBeat reports. Bank of America currently has $25.00 price objective on the chip maker’s stock, up from their prior price objective of $19.00.

A number of other analysts have also recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their price target on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Stifel Nicolaus decreased their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company decreased their price target on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, Truist Financial decreased their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.04.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $23.70 on Thursday. The company has a market capitalization of $102.62 billion, a price-to-earnings ratio of -5.41 and a beta of 1.02. The firm’s 50 day simple moving average is $21.38 and its 200 day simple moving average is $21.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel has a fifty-two week low of $18.51 and a fifty-two week high of $45.41.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. As a group, sell-side analysts forecast that Intel will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Intel

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Advisory LLC lifted its holdings in shares of Intel by 4.3% during the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker’s stock worth $198,000 after buying an additional 409 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Intel by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker’s stock worth $840,000 after purchasing an additional 419 shares during the period. Dunhill Financial LLC increased its position in shares of Intel by 22.6% in the third quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after purchasing an additional 438 shares during the period. Federated Hermes Inc. increased its position in shares of Intel by 0.3% in the fourth quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker’s stock worth $3,263,000 after purchasing an additional 456 shares during the period. Finally, Beaton Management Co. Inc. increased its position in shares of Intel by 2.2% in the third quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock worth $544,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

About Intel

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.