Zacks Investment Research upgraded shares of Intel Corp. (NASDAQ:INTC) from a hold rating to a buy rating in a research note published on Monday. The firm currently has $42.00 price target on the chip maker’s stock.
According to Zacks, “Intel is one of the world’s leading producers of semiconductor components and digital platforms. The company’s second-quarter earnings exceeded the Zacks Consensus estimate. Data center is currently the most promising area, where macro factors are impacting the enterprise side (cloud remains strong). Intel’s investments in IoT, security and memory could pay off this year but comprise a very small portion of its revenue. Also, while the broader product and price range, greater integration in products, process technology lead, Chinese collaborations and Win 10-related PC refresh can help the client business, certain issues (revenue concentration, declining PC demand, failed mobile initiative) are dampeners. ARM-based competition claiming greater performance at lower cost of ownership, major customers like Google looking for alternatives and China weakness are other concerns.”
Other equities analysts have also recently issued reports about the company. Vetr cut Intel Corp. from a strong-buy rating to a buy rating and set a $34.92 target price for the company. in a research note on Wednesday, June 8th. Wells Fargo & Co. reiterated a buy rating on shares of Intel Corp. in a research note on Wednesday, June 8th. Sterne Agee CRT reiterated a buy rating and set a $38.00 target price on shares of Intel Corp. in a research note on Tuesday, May 31st. Argus reiterated a buy rating and set a $41.00 target price on shares of Intel Corp. in a research note on Wednesday, June 29th. Finally, Canaccord Genuity increased their target price on Intel Corp. from $38.00 to $40.00 and gave the company a buy rating in a research note on Monday, July 18th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Intel Corp. has a consensus rating of Buy and a consensus target price of $39.26.
Intel Corp. (NASDAQ:INTC) traded up 0.8461% during trading on Monday, reaching $36.9601. 2,461,825 shares of the company’s stock were exchanged. Intel Corp. has a 52 week low of $27.68 and a 52 week high of $38.05. The stock has a 50-day moving average price of $35.83 and a 200 day moving average price of $33.12. The firm has a market capitalization of $174.86 billion, a price-to-earnings ratio of 17.9244 and a beta of 0.93.
Intel Corp. (NASDAQ:INTC) last released its earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. The company earned $13.50 billion during 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 prior year, the business posted $0.55 EPS. Equities research analysts forecast that Intel Corp. will post $2.58 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 issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s payout ratio is presently 50.24%.
In related news, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $34.46, for a total transaction of $51,896.76. Following the completion of the transaction, the vice president now owns 84,505 shares in the company, valued at approximately $2,912,042.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory R. Pearson sold 1,866 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $34.68, for a total value of $64,712.88. Following the transaction, the vice president now owns 86,635 shares of the company’s stock, valued at approximately $3,004,501.80. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Carnick & Kubik LLC bought a new position in Intel Corp. during the first quarter valued at approximately $100,000. Global X Management Co. LLC increased its position in Intel Corp. by 52.0% in the second quarter. Global X Management Co. LLC now owns 3,037 shares of the chip maker’s stock valued at $100,000 after buying an additional 1,039 shares during the period. Penserra Capital Management LLC increased its position in Intel Corp. by 36.3% in the second quarter. Penserra Capital Management LLC now owns 3,178 shares of the chip maker’s stock valued at $104,000 after buying an additional 847 shares during the period. Nelson Roberts Investment Advisors LLC increased its position in Intel Corp. by 55.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 3,443 shares of the chip maker’s stock valued at $113,000 after buying an additional 1,226 shares during the period. Finally, Proficio Capital Partners LLC increased its position in Intel Corp. by 143.0% in the second quarter. Proficio Capital Partners LLC now owns 3,395 shares of the chip maker’s stock valued at $118,000 after buying an additional 1,998 shares during the period. Institutional investors and hedge funds own 64.77% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intel Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel Corp. and related companies with MarketBeat.com's FREE daily email newsletter.