Bank of America Upgrades Intel Stock Rating

On Thursday, Bank of America made a significant change to its assessment of Intel Corporation (NASDAQ: INTC). The firm upgraded Intel's stock from an "underperform" rating to a "neutral" rating. This change reflects a more favorable outlook on the company's potential. Additionally, Bank of America raised its price target for Intel shares from $19.00 to $25.00, suggesting a possible upside of approximately 20.89% based on the stock's previous closing price.

Recent Analyst Insights

Following Bank of America's upgrade, several other research firms provided their evaluations of Intel. Benchmark retained a "hold" rating on the stock, while Citigroup reduced its price target from $22.00 to $21.00, also assigning a "neutral" rating. UBS Group, too, adjusted its price target, lowering it from $26.00 to $23.00 and maintaining a "neutral" stance. Meanwhile, Wells Fargo & Company cut its target price from $28.00 down to $25.00, indicating an "equal weight" rating. On the other hand, Rosenblatt Securities reiterated a "sell" rating with a target price of $20.00.

In total, four research analysts have a sell rating on Intel, twenty-eight have assigned a hold rating, and only one analyst has given a buy rating. The consensus rating for the stock remains "Hold," with an average price target set at $27.04, according to MarketBeat.

Stock Performance and Market Overview

On the day of the upgrade, Intel shares opened at $20.68. The company currently has a market capitalization of $89.54 billion and a price-to-earnings (P/E) ratio of -4.72. Over the past year, Intel's stock reached a low of $18.51 and a high of $45.41. The fifty-day moving average stands at $21.31, while the 200-day moving average is $21.80. Moreover, Intel has 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

In its latest earnings report, released on January 30th, Intel reported an earnings per share (EPS) of (-$0.02), which fell short of analysts' expectations that anticipated $0.12 per share. The company has seen negative margins and returns on equity, highlighting ongoing challenges. Forecasts indicate that Intel may report an EPS of -$0.11 for the current year.

Institutional Investments in Intel

Recent interest from institutional investors has been noteworthy. Norges Bank purchased a new stake in Intel valued at approximately $1.25 billion during the fourth quarter. Similarly, Two Sigma Advisers LP acquired a stake valued at $289.75 million. Assenagon Asset Management S.A. raised its stake in Intel significantly, now owning about $393.32 million worth of shares after increasing its position by 264% in the same quarter. UBS Asset Management also boosted its holdings in the third quarter, now holding shares worth roughly $1.37 billion. Overall, about 64.53% of Intel's stock is held by institutional and hedge fund investors.

About Intel Corporation

Intel Corporation designs and produces a range of computing products and services. The company's divisions include Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. Intel's product offerings consist of central processing units (CPUs), chipsets, system-on-chip (SoC) solutions, desktop and mobile processors, graphics processing units (GPUs), and a variety of semiconductor products.

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