Intel (NASDAQ:INTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports. The brokerage currently has a $54.00 price objective on the chip maker’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 4.75% from the company’s previous close.

According to Zacks, “Intel reported stellar second-quarter results and provided an encouraging third-quarter guidance. The company is benefiting from rising demand witnessed in its higher performance products, both in data center and client domains. Moreover, synergies from Mobileye acquisition and growing clout in ADAS market favor the company’s growth prospects. Further, Intel’s strategy of expanding TAM beyond CPU to adjacent product lines like silicon photonics, fabric, network ASICs, and 3D XPoint memory is yielding results. Notably, Intel recently announced that it has found a buyer for its failed 5G smartphone modem business in none other than Apple. However, weakness in demand from China and softness in NAND flash pricing trends, expenses pertaining to 10-nanometer (nm) ramp and constrained supply remain major concerns.”

A number of other research firms also recently commented on INTC. Daiwa Capital Markets downgraded shares of Intel from an “outperform” rating to a “neutral” rating in a research report on Monday, April 29th. Mizuho set a $43.00 price objective on shares of Taubman Centers and gave the stock a “hold” rating in a research report on Friday. Goldman Sachs Group set a $52.00 target price on shares of Twitter and gave the stock a “buy” rating in a research report on Friday. Credit Suisse Group set a €38.00 ($44.19) price objective on shares of Dialog Semiconductor and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, ValuEngine upgraded shares of YPF from a “sell” rating to a “hold” rating in a research note on Monday, June 24th. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty have issued a buy rating to the company. Intel currently has an average rating of “Hold” and an average target price of $54.31.

INTC traded down $0.04 during trading on Monday, hitting $51.55. 569,263 shares of the company traded hands, compared to its average volume of 18,428,554. The company has a market cap of $230.97 billion, a P/E ratio of 11.25, a PEG ratio of 1.66 and a beta of 0.84. The stock has a 50-day moving average price of $48.30. Intel has a 1 year low of $42.36 and a 1 year high of $59.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.48.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The business had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $15.70 billion. Intel had a net margin of 28.05% and a return on equity of 28.84%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the company posted $1.04 EPS. Analysts anticipate that Intel will post 4.13 earnings per share for the current fiscal year.

In other Intel news, EVP Navin Shenoy sold 1,254 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $50.80, for a total transaction of $63,703.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 10,417 shares of company stock valued at $494,927 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of INTC. Tributary Capital Management LLC purchased a new stake in shares of Intel during the fourth quarter worth $28,000. Ogorek Anthony Joseph NY ADV grew its holdings in shares of Intel by 500.0% during the second quarter. Ogorek Anthony Joseph NY ADV now owns 600 shares of the chip maker’s stock worth $28,000 after buying an additional 500 shares in the last quarter. Global Trust Asset Management LLC grew its holdings in shares of Intel by 273.2% during the second quarter. Global Trust Asset Management LLC now owns 3,336 shares of the chip maker’s stock worth $45,000 after buying an additional 2,442 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in shares of Intel during the fourth quarter worth $48,000. Finally, Stevens First Principles Investment Advisors purchased a new stake in shares of Intel during the fourth quarter worth $53,000. Institutional investors own 65.92% of the company’s stock.

About Intel

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

Further Reading: Does a trade war provide a risk to the global economy?

Get a free copy of the Zacks research report on Intel (INTC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Intel (NASDAQ:INTC)

Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.