Friday, 22 September 2023

Business News

Bank of America Securities Remains a Sell on Intel (INTC) – TipRanks Financial Blog

Onto Innovation (ONTO) Gets a Buy from Benchmark Co. – TipRanks Financial Blog

In a report released today, Vivek Arya from Bank of America Securities maintained a Sell rating on Intel (INTCResearch Report), with a price target of $32.00. The company’s shares closed today at $36.34.

According to TipRanks, Arya is a top 25 analyst with an average return of 22.1% and a 66.06% success rate. Arya covers the Technology sector, focusing on stocks such as Nvidia, Marvell, and Analog Devices.

The word on The Street in general, suggests a Hold analyst consensus rating for Intel with a $36.19 average price target.

See today’s best-performing stocks on TipRanks >>

Based on Intel’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $12.95 billion and a net profit of $1.48 billion. In comparison, last year the company earned a revenue of $15.32 billion and had a GAAP net loss of $454 million

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of INTC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Intel manufactures and sells microprocessors, chipsets, flash memory as well as other products and platforms for compute, storage, network and other functions. The company’s data-centric businesses include Data Center Group (DCG), Internet of Things (IOTG), Mobileye, Non-volatile Memory Solutions Group (NSG), Programmable Solutions Group (PSG), with the PC-centric business comprised of Client Computing Group (CCG). It derives a majority of its revenue from platform products, which incorporate various components and technologies, including a microprocessor and chipset, a stand-alone SoC, or multichip package.

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