Intel Corp.’s “Neutral” Rating Reaffirmed at Zacks (INTC)
Intel Corp. (NASDAQ:INTC)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Thursday, Analyst Ratings.Net reports. They currently have a $26.00 target price on the stock. Zacks‘ price objective would indicate a potential upside of 6.12% from the company’s previous close.
Zacks‘ analyst wrote, “Intel is one of the leading producers of microprocessors in the world. The company’s fourth-quarter earnings missed the Zacks Consensus Estimate by a penny. Forward guidance was also disappointing. Though Intel’s promise of success in the mobile segment is encouraging, this is likely to be mitigated by conservative spending by individuals and corporations, competition from ARM-based devices, and the impact of new product ramp-up costs. The silver lining is its strength in the server and software segments, which along with the stabilization in the PC market and reasonable valuation, leads us to reiterate our Neutral rating. “
Several other analysts have also recently commented on the stock. Analysts at Ned Davis Research upgraded shares of Intel Corp. from a “neutral” rating to a “buy” rating in a research note on Monday, January 27th. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Intel Corp. in a research note on Monday, January 27th. Finally, analysts at Drexel Hamilton downgraded shares of Intel Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. They now have a $26.00 price target on the stock, down previously from $30.00. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.57.
Shares of Intel Corp. (NASDAQ:INTC) traded up 1.18% during mid-day trading on Thursday, hitting $24.79. The stock had a trading volume of 10,599,588 shares. Intel Corp. has a 52 week low of $20.10 and a 52 week high of $27.12. The stock has a 50-day moving average of $25.02 and a 200-day moving average of $23.98. The company has a market cap of $123.2 billion and a P/E ratio of 12.96. Intel Corp. also was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 206,483,994 shares, a decline of 3.3% from the January 15th total of 213,430,645 shares. Based on an average daily volume of 42,846,475 shares, the days-to-cover ratio is currently 4.8 days. Currently, 4.2% of the company’s stock are short sold.
Intel Corp. (NASDAQ:INTC) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.01. The company had revenue of $13.80 billion for the quarter, compared to the consensus estimate of $13.72 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that Intel Corp. will post $1.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Saturday, March 1st. Investors of record on Friday, February 7th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Wednesday, February 5th.
Intel Corporation designs and manufactures integrated digital technology platforms. A platform consists of a microprocessor and chipset.
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