Intel Corp. (NASDAQ:INTC) shares saw strong trading volume on Tuesday after the company announced better than expected quarterly earnings. 39,117,478 shares traded hands during trading, an increase of 81% from the previous session’s volume of 21,573,724 shares.The stock last traded at $37.75 and had previously closed at $37.29.
The chip maker reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.08. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same quarter last year, the company posted $0.64 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.75%. Intel Corp.’s payout ratio is 50.24%.
A number of equities research analysts recently weighed in on the company. Citigroup Inc. restated a “neutral” rating and set a $35.00 price objective (up previously from $31.00) on shares of Intel Corp. in a research report on Thursday, June 30th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Intel Corp. in a research report on Thursday, July 21st. BNP Paribas set a $37.00 price objective on Intel Corp. and gave the stock a “neutral” rating in a research report on Friday, July 22nd. Argus restated a “buy” rating and set a $41.00 price objective on shares of Intel Corp. in a research report on Monday, July 25th. Finally, Vetr lowered Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $41.20 price objective on the stock. in a research report on Wednesday, October 12th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty-three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $40.02.
In other Intel Corp. news, VP Gregory R. Pearson sold 250,192 shares of Intel Corp. stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $36.50, for a total value of $9,132,008.00. Following the completion of the sale, the vice president now owns 92,826 shares of the company’s stock, valued at approximately $3,388,149. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brian M. Krzanich sold 67,508 shares of Intel Corp. stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $37.71, for a total transaction of $2,545,726.68. Following the completion of the sale, the chief executive officer now directly owns 420,506 shares of the company’s stock, valued at approximately $15,857,281.26. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Carlton Hofferkamp & Jenks Wealth Management LLC bought a new stake in Intel Corp. during the third quarter worth approximately $242,000. GW&K Investment Management LLC increased its stake in Intel Corp. by 6.5% in the third quarter. GW&K Investment Management LLC now owns 746,627 shares of the chip maker’s stock worth $28,185,000 after buying an additional 45,647 shares during the period. Trust Co. of Virginia VA increased its stake in Intel Corp. by 2.2% in the third quarter. Trust Co. of Virginia VA now owns 216,616 shares of the chip maker’s stock worth $8,177,000 after buying an additional 4,726 shares during the period. Smith Chas P & Associates PA Cpas bought a new stake in Intel Corp. during the third quarter worth approximately $243,000. Finally, FNY Managed Accounts LLC increased its stake in Intel Corp. by 589.9% in the third quarter. FNY Managed Accounts LLC now owns 68,990 shares of the chip maker’s stock worth $2,604,000 after buying an additional 58,990 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.
The company has a market capitalization of $178.60 billion, a price-to-earnings ratio of 18.31 and a beta of 1.09. The company has a 50 day moving average price of $36.98 and a 200-day moving average price of $33.74.
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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