Intel Corp.’s Hold Rating Reaffirmed at Zacks (INTC)
Intel Corp. (NASDAQ:INTC)‘s stock had its “hold” rating reiterated by Zacks in a report released on Monday, AR Network reports. They currently have a $24.00 price target on the stock. Zacks‘ target price suggests a potential upside of 1.29% from the company’s current price.
Zacks‘ analyst wrote, “Intel is one of the leading producers of microprocessors in the world. The company’s second-quarter earnings missed the Zacks Consensus Estimate by a penny. The below-seasonal revenue guide for the next quarter and flat revenue for the year indicates a very strong fourth quarter. Intel’s promise of success in the mobile segment is encouraging, although this is likely to be mitigated by conservative spending by individuals and corporations, as well as competition from ARM-based devices. The silver lining is its strength in the server and software segments. We therefore have a Neutral recommendation on the shares.”
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Intel Corp. in a research note to investors on Tuesday, October 1st. Finally, analysts at Credit Suisse raised their price target on shares of Intel Corp. from $28.00 to $30.00 in a research note to investors on Tuesday, September 17th. They now have an “outperform” rating on the stock. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have issued a buy rating to the stock. Intel Corp. presently has an average rating of “Hold” and a consensus target price of $23.69.
Intel Corp. (NASDAQ:INTC) traded down 0.19% during mid-day trading on Monday, hitting $23.65. 3,385,802 shares of the company’s stock traded hands. Intel Corp. has a 1-year low of $19.23 and a 1-year high of $25.98. The stock’s 50-day moving average is $23. and its 200-day moving average is $23.29. The company has a market cap of $117.8 billion and a price-to-earnings ratio of 12.80. Intel Corp. also saw unusually large options trading activity on Tuesday. Stock investors acquired 172,185 call options on the stock. This is an increase of approximately 311% compared to the average volume of 41,909 call options.
Intel Corp. (NASDAQ:INTC) last announced its earnings results on Tuesday, October 15th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.04. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $13.47 billion. During the same quarter last year, the company posted $0.58 earnings per share. Intel Corp.’s revenue was up .2% compared to the same quarter last year. Analysts expect that Intel Corp. will post $1.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.23 per share. This represents a $0.90 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Tuesday, November 5th.
Intel Corporation designs and manufactures integrated digital technology platforms. A platform consists of a microprocessor and chipset.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.