Despite the sharp drop in Intel Corporation’s (NASDAQ:INTC) share price last Friday, after a solid fourth quarter earnings report, two research firms have just reaffirmed their ‘buy’ ratings and price targets for the company.
First, Summit Research has shown their confidence in Intel Corporation (NASDAQ:INTC) by reaffirming their ‘buy’ rating as well as their price target of $40 per share. Considering shares are currently hovered south of $30 per share, this means the stock has significant upside.
In addition to Summit Research’s recent reaffirmation, Deutsche Bank has also held their ‘buty rating in place as they feel that the company is trading at a discount when one consider’s their PE ratio on 12.7, along with a stong balance sheet. While Friday’s decline may have had more to do with China and the market in general, it will be interesting to see how shares react when the market opens tomorrow morning.
The stock decreased 9.10% or $2.98 on January 15, hitting $29.76. About 76.37 million shares traded hands or 209.94% up from the average. INTC has declined 4.98% since June 12, 2015 and is downtrending. It has outperformed the S&P500 by 3.89%.
From a total of 29 analysts covering Intel Corporation (NASDAQ:INTC) stock, 16 rate it a “Buy”, 0 a “Sell”, and 13 a “Hold”. This means that 55% of the ratings are positive. The highest target price is $60.0 while the lowest target price is $25. The mean of all analyst targets is $37.08 which is 24.60% above today’s ($29.76) stock price. Intel Corporation was the topic of 59 analyst reports since August 7, 2015 according to the firm StockzIntelligence Inc. Wedbush maintained shares on January 15 with a “Outperform” rating. Mizuho upgraded shares to a”Buy” rating and a $37.0 target share price in their report from a January 12. Stifel Nicolaus maintained INTC stock in a recent report from January 15 with a “Buy” rating. JP Morgan initiated the rating on January 12. JP Morgan has a “Overweight” rating and a $40 price target on shares. Finally, Topeka Capital Markets maintained the stock with a “Buy” rating in a report they issued on a January 15.
The institutional sentiment increased to 0.83 in Q2 2015. It’s up 0.02, from 0.81 in 2015Q2. The ratio improved, as 86 funds sold all their Intel Corporation shares they owned while 732 reduced their positions. 72 funds bought stakes while 605 increased their total positions. Institutions now own 3.04 billion shares which is 0.34% less than the previous share count of 3.05 billion in 2015Q2.
Srb Corp holds 14.65% of its total portfolio in Intel Corporation, equating to 3.54 million shares. Alpine Investment Management Llc owns 3.34 million shares representing 11.02% of their total US portfolio. Moreover, Hawkins Capital L.P. has 10.19% of their total portfolio invested in the company, equating to 722,488 shares. The Delaware-based Ashmore Wealth Management Llc has a total of 9.05% of their portfolio invested in the stock. Central Securities Corp, a New York-based fund reported 1.10 million shares owned.
Since April 21, 2015, the stock had 0 insider purchases, and 9 selling transactions for a total of $3.38 million in net activity. Pearson Gregory R sold 1,506 shares worth $51,472. Bryant Andy D sold 23,000 shares worth $772,968. Krzanich Brian M sold 35,000 shares worth $1.06 million. James Renee Jo sold 3,602 shares worth $108,060. The insider Holt William M sold 6,786 shares worth $192,020.
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The company has a market cap of $140.44 billion. The Firm sells these platforms to original equipment manufacturers , original design manufacturers (ODMs), and industrial and communications equipment manufacturers in the computing and communications industries. It has 12.72 P/E ratio. The Company’s platforms are used to deliver a range of computing experiences in notebooks, 2 in 1 systems, desktops, servers, tablets, smartphones, and the Internet of Things.