Canaccord Genuity Increases Intel Corp. (INTC) Price Target to $44.00
Intel Corp. (NASDAQ:INTC) had its target price hoisted by research analysts at Canaccord Genuity from $40.00 to $44.00 in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the chip maker’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 18.41% from the company’s current price.
A number of other analysts have also recently issued reports on the company. Cowen and Company restated a “market perform” rating and set a $36.00 price objective (up from $32.00) on shares of Intel Corp. in a research report on Monday, July 11th. Evercore ISI upgraded Intel Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, September 6th. Vetr cut Intel Corp. from a “hold” rating to a “sell” rating and set a $31.46 price objective on the stock. in a research report on Monday, July 4th. Royal Bank Of Canada boosted their price objective on Intel Corp. from $33.00 to $34.00 and gave the company a “sector perform” rating in a research report on Friday, July 8th. Finally, RBC Capital Markets restated a “sector perform” rating and set a $36.00 price objective on shares of Intel Corp. in a research report on Wednesday, August 31st. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-one have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $39.01.
Shares of Intel Corp. (NASDAQ:INTC) opened at 37.16 on Tuesday. The company has a market capitalization of $175.80 billion, a PE ratio of 18.02 and a beta of 0.93. 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.
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Intel Corp. (NASDAQ:INTC) last issued its quarterly earnings results on Wednesday, July 20th. The chip maker reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company earned $13.50 billion during the quarter, compared to analyst estimates of $13.54 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts expect that Intel Corp. will post $2.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.04 annualized dividend and a dividend yield of 2.80%. Intel Corp.’s payout ratio is presently 50.24%.
In other Intel Corp. news, Chairman Andy D. Bryant sold 445,095 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $34.69, for a total value of $15,440,345.55. Following the completion of the sale, the chairman now directly owns 399,557 shares in the company, valued at $13,860,632.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory R. Pearson sold 250,192 shares of the firm’s 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 sale, the vice president now owns 92,826 shares of the company’s stock, valued at $3,388,149. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of INTC. Lowe FS bought a new stake in shares of Intel Corp. during the third quarter valued at approximately $12,000. Proficio Capital Partners bought a new stake in shares of Intel Corp. during the fourth quarter valued at approximately $26,000. Carnick & Kubik LLC bought a new stake in shares of Intel Corp. during the first quarter valued at approximately $100,000. Global X Management Co. LLC raised its stake in shares of 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. Finally, Penserra Capital Management LLC raised its stake in shares of 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. 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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