Deutsche Bank Reiterates Positive Rating for Intel (INTC)
Intel (NASDAQ:INTC)‘s stock had its “positive” rating restated by analysts at Deutsche Bank in a research report issued to clients and investors on Wednesday, Stock Ratings News reports.
The analysts wrote, “INTC posted solid results/guidance, with GM providing upside to EPS. Looking fwd, we believe INTC’s 2H14 guidance is prudently conservative as it assumes little-to-no 2H revenue seasonality in the co’s PC business and a decline in GMs (rising 14nm costs). Overall, we believe INTC is making solid progress on a number of key growth initiatives (DCG reacceleration, PC biz stabilizing, tablet/LTE traction, etc.) while simultaneously taking steps to reduce costs (headcount dropping in 2014). We expect this combination to unlock EPS/FCF power at INTC and yield incremental valuation expansion as well. Maintain Buy.”
Shares of Intel (NASDAQ:INTC) traded up 1.08% during mid-day trading on Wednesday, hitting $27.0601. The stock had a trading volume of 17,705,484 shares. Intel has a 52-week low of $21.57 and a 52-week high of $27.12. The stock has a 50-day moving average of $25.38 and a 200-day moving average of $24.70. The company has a market cap of $134.5 billion and a price-to-earnings ratio of 14.16.
Intel (NASDAQ:INTC) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.37 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.81 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts predict that Intel will post $1.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Sunday, June 1st. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 3.36%.
INTC has been the subject of a number of other recent research reports. Analysts at Goldman Sachs reiterated a “sell” rating on shares of Intel in a research note on Wednesday. Separately, analysts at Jefferies Group raised their price target on shares of Intel from $32.00 to $35.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Intel in a research note on Wednesday. They now have a $24.00 price target on the stock. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $26.19.
In other Intel news, President Renee Jo James sold 22,578 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $26.50, for a total transaction of $598,317.00. Following the sale, the president now directly owns 55,912 shares in the company, valued at approximately $1,481,668. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Intel Corporation, incorporated in 1968, designs and manufactures integrated digital technology platforms.
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