Bank of America Upgrades Intel Stock Rating

Bank of America has upgraded the stock rating for Intel (NASDAQ: INTC) from an "underperform" to a "neutral" status. This change was communicated in a research report released to clients and investors on Thursday. In addition to the rating change, Bank of America has also increased its target price for Intel shares from $19.00 to $25.00. This new price target suggests that there is a potential upside of approximately 20.89% based on the recent closing price of the stock.

Market Reactions and Other Analyst Insights

In conjunction with Bank of America's upgrade, various other research firms have provided their perspectives on Intel's stock performance. For instance, Benchmark maintained a "hold" rating on Intel as of January 31. In contrast, Citigroup reduced its price target for Intel from $22.00 to $21.00, citing a "neutral" rating on the stock. UBS Group similarly cut their price objective from $26.00 to $23.00, also giving it a "neutral" rating. Meanwhile, Wells Fargo lowered its target price from $28.00 to $25.00, classifying Intel as "equal weight." Rosenblatt Securities, however, remained more cautious, reiterating a "sell" rating with a $20.00 target price. The overall sentiment among analysts shows four with a sell rating, twenty-eight issuing a hold rating, and one suggesting a buy for Intel. The consensus rating remains a "Hold" with an average price target of $27.04.

Current Stock Performance

On Thursday, Intel's stock opened at $20.68. The company boasts a market capitalization of approximately $89.54 billion and a P/E ratio of -4.72, alongside a beta of 1.02. Over the past year, Intel shares have seen a low of $18.51 and a high of $45.41. Current metrics indicate a fifty-day moving average price of $21.31 and a 200-day average of $21.80. Financially, Intel maintains a debt-to-equity ratio of 0.44, with a current ratio of 1.33 and a quick ratio of 0.98.

Recent Earnings Report

Intel's latest quarterly earnings report, released on January 30, revealed an earnings per share (EPS) of ($0.02). This figure fell short of analysts' expectations of $0.12 by ($0.14). The company reported a negative net margin of 35.32% and a negative return on equity of 3.27%. For the current fiscal year, analysts foresee an EPS of -0.11 for Intel.

Investment Activity

Several notable institutional investors have made recent moves regarding their stakes in Intel. Norges Bank acquired a new shareholding in the fourth quarter, valuing approximately $1.25 billion, while Two Sigma Advisers LP invested around $289 million in new shares. Assenagon Asset Management S.A. significantly boosted its position by 264%, resulting in 19.6 million shares valued at $393.3 million. UBS AM also increased its holdings by 28.2%, now holding about 58.5 million shares worth approximately $1.37 billion. In total, institutional investors and hedge funds own about 64.53% of Intel's stock.

About Intel Corporation

Intel Corporation is a prominent player in designing, developing, manufacturing, marketing, and selling computing and related products globally. The company operates through various segments including the Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. Their product offerings include central processing units (CPUs), chipsets, system-on-chips (SoCs), and other semiconductor products.

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