Intel Corp. (NASDAQ:INTC) had its price objective raised by Needham & Company LLC from $38.00 to $43.00 in a research note published on Monday. The brokerage currently has a buy rating on the chip maker’s stock.
Several other research firms have also issued reports on INTC. B. Riley reiterated a buy rating and set a $42.00 target price on shares of Intel Corp. in a report on Wednesday, August 17th. Citigroup Inc. reiterated a neutral rating and set a $35.00 target price on shares of Intel Corp. in a report on Wednesday, August 17th. Cowen and Company reiterated a market perform rating and set a $36.00 target price (up from $32.00) on shares of Intel Corp. in a report on Monday, July 11th. Sanford C. Bernstein reiterated a sell rating on shares of Intel Corp. in a report on Monday, June 13th. Finally, Morgan Stanley reiterated an underweight rating and set a $31.00 target price on shares of Intel Corp. in a report on Wednesday, September 14th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-one have assigned a buy rating to the company’s stock. Intel Corp. currently has a consensus rating of Buy and a consensus target price of $39.01.
Intel Corp. (NASDAQ:INTC) opened at 37.45 on Monday. The firm’s 50-day moving average price is $35.62 and its 200 day moving average price is $32.97. Intel Corp. has a one year low of $27.68 and a one year high of $38.05. The company has a market capitalization of $177.18 billion, a price-to-earnings ratio of 18.16 and a beta of 0.93.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings data on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The business had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. On average, equities research analysts expect that Intel Corp. will post $2.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.78%. Intel Corp.’s dividend payout ratio is currently 50.24%.
In other news, Chairman Andy D. Bryant sold 445,095 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $34.69, for a total transaction of $15,440,345.55. Following the completion of the sale, the chairman now owns 399,557 shares of the company’s stock, valued at $13,860,632.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $34.71, for a total transaction of $485,835.87. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. James Investment Research Inc. increased its stake in Intel Corp. by 12.8% in the second quarter. James Investment Research Inc. now owns 661,825 shares of the chip maker’s stock worth $21,708,000 after buying an additional 75,124 shares during the last quarter. Park National Corp OH increased its stake in Intel Corp. by 2.7% in the second quarter. Park National Corp OH now owns 813,717 shares of the chip maker’s stock worth $26,689,000 after buying an additional 21,481 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Intel Corp. during the first quarter worth $132,302,000. Svenska Handelsbanken AB publ bought a new stake in Intel Corp. during the second quarter worth $44,489,000. Finally, Alpine Investment Management LLC increased its stake in Intel Corp. by 5.6% in the first quarter. Alpine Investment Management LLC now owns 3,541,188 shares of the chip maker’s stock worth $114,557,000 after buying an additional 188,067 shares during the last quarter. 64.77% of the stock is owned by institutional investors and hedge funds.
About Intel Corp.
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.
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