Intel Corp.’s (INTC) Outperform Rating Reaffirmed at Credit Suisse Group AG
Intel Corp. (NASDAQ:INTC)‘s stock had its “outperform” rating reaffirmed by investment analysts at Credit Suisse Group AG in a report issued on Monday. They presently have a $40.00 price target on the chip maker’s stock. Credit Suisse Group AG’s price objective points to a potential upside of 7.64% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. Vetr lowered Intel Corp. from a “hold” rating to a “sell” rating and set a $34.32 price target for the company. in a research report on Monday, August 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Intel Corp. in a research report on Sunday, September 4th. Morgan Stanley reiterated an “underweight” rating and issued a $31.00 price target on shares of Intel Corp. in a research report on Wednesday, September 14th. Canaccord Genuity reiterated a “buy” rating and issued a $40.00 price target on shares of Intel Corp. in a research report on Tuesday, August 23rd. Finally, Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Intel Corp. in a research report on Friday, August 19th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty-one have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $39.01.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.16 on Monday. Intel Corp. has a 52-week low of $27.68 and a 52-week high of $38.05. The company’s 50-day moving average is $35.47 and its 200-day moving average is $32.89. The firm has a market cap of $175.80 billion, a P/E ratio of 18.02 and a beta of 0.93.
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Intel Corp. (NASDAQ:INTC) last announced its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The business earned $13.50 billion during the quarter, compared to analysts’ expectations of $13.54 billion. During the same quarter last year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts forecast that Intel Corp. will post $2.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. Intel Corp.’s dividend payout ratio (DPR) is currently 50.24%.
In other Intel Corp. news, VP Gregory R. Pearson sold 250,192 shares of Intel Corp. stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $36.50, for a total transaction of $9,132,008.00. Following the completion of the transaction, the vice president now owns 92,826 shares in the company, valued at approximately $3,388,149. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Venkata S. M. Renduchintala sold 13,997 shares of Intel Corp. stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $34.71, for a total value of $485,835.87. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Pioneer Investment Management Inc. increased its position in shares of Intel Corp. by 98.3% in the fourth quarter. Pioneer Investment Management Inc. now owns 169,339 shares of the chip maker’s stock worth $5,834,000 after buying an additional 83,945 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in shares of Intel Corp. by 5.3% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 118,499 shares of the chip maker’s stock worth $3,834,000 after buying an additional 5,913 shares during the last quarter. Hollencrest Securities LLC increased its position in shares of Intel Corp. by 3.2% in the first quarter. Hollencrest Securities LLC now owns 72,054 shares of the chip maker’s stock worth $2,331,000 after buying an additional 2,211 shares during the last quarter. Stillwater Investment Management LLC increased its position in shares of Intel Corp. by 0.7% in the first quarter. Stillwater Investment Management LLC now owns 43,654 shares of the chip maker’s stock worth $1,328,000 after buying an additional 324 shares during the last quarter. Finally, First American Bank increased its position in shares of Intel Corp. by 4.1% in the first quarter. First American Bank now owns 133,085 shares of the chip maker’s stock worth $4,305,000 after buying an additional 5,218 shares during the last quarter. 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.
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