After Merrill Lynch and Morgan Stanley gave Intel (NASDAQ: INTC) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst John Pitzer maintained a Buy rating on Intel yesterday and set a price target of $75.00. The company’s shares closed last Monday at $58.43.
According to TipRanks.com, Pitzer is a top 100 analyst with an average return of 19.2% and a 67.1% success rate. Pitzer covers the Consumer Goods sector, focusing on stocks such as Applied Materials, Brooks Automation, and Texas Instruments.
Currently, the analyst consensus on Intel is a Moderate Buy with an average price target of $64.02, representing a 13.0% upside. In a report issued on March 25, Argus Research also upgraded the stock to Buy with a $65.00 price target.
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Based on Intel’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $20.21 billion and net profit of $6.91 billion. In comparison, last year the company earned revenue of $18.66 billion and had a net profit of $5.2 billion.
Based on the recent corporate insider activity of 123 insiders, corporate insider sentiment is neutral on the stock.
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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other. The CCG segment consists of platforms designed for notebooks, 2-in-1 systems, desktops, tablets, phones, wireless and wired connectivity products, and mobile communication components. The DCG segment includes workload-optimized platforms and related products designed for enterprise, cloud, and communication infrastructure market. The IOTG segment offers compute solutions for targeted verticals and embedded applications for the retail, manufacturing, health care, energy, automotive, and government market segments. The NSG segment constitutes of NAND flash memory products primarily used in solid-state drives. The PSG segment contains programmable semiconductors and related products for a broad range of markets, including communications, data center, industrial, military, and automotive. The All Other segment consists of results from other non-reportable segment and corporate-related charges. The company was founded by Robert Norton Noyce and Gordon Earle Moore on July 18, 1968 and is headquartered in Santa Clara, CA.
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